Sugar Beet Food Co-op Beginning Construction
The Sugar Beet Food Co-op, a community based, member-owned, full-service grocery store, has met its fundraising goal of $1.8 million and will begin construction at 812 W. Madison Street, in Oak Park, promptly as soon as permits are approved. The Sugar Beet Food Co-op will be open to the public, and member/owners will receive store discounts, voting rights and patronage dividends.
The money came from three primary sources: member owners, traditional loans and a Village of Oak Park tax increment financing (TIF) grant. Member/owners of the co-op also stepped up to invest in the community grocery store. Out of 950 member owners, more than 60 member loans were received.
Cheryl Muñoz, founder of the Sugar Beet Co-op, says, “We have reached a huge milestone for this community project. Residents have rallied around the Sugar Beet and its mission and have shown their support. We are grateful to all of our lenders, partners and member owners who have helped us achieve our goal.”
The Sugar Beet Co-op will create 20 to 30 new local jobs, generate sales tax revenues for the Village of Oak Park and support local farmers and producers. The Co-op will also fill a consumer demand for local, organic produce and products and serve as a hub for educating the community about more sustainable and healthier food choices.
“Our growing membership base further demonstrates the support we have for this grocery store,” notes Tom Hollinden, president of the Sugar Beet Co-op Board. “Over 900 households from our community have already become member/owners, and many have stepped forward to help fund the grocery store opening.”
Membership can be purchased at SugarBeetCoop.com.