Building for sale, but Shopko to remain open

The two area Shopko stores are up for auction, though they’re not expected to close.

The retail stores in Tuscola and Monticello are listed on the commercial real estate auction website ten-x.com, each with a starting bid of $350,000.

“The seller is looking to dispose a large amount of Shopko properties that they own,” said Scott Harris, a senior analyst with The Boulder Group, the brokerage firm handling the auction. “The new buyer would keep it open.”

He said the properties are currently owned by Spirit Realty, a real estate investment firm with more than 1,500 properties.

“They just have so many of these Shopkos. They would like to get rid of them by the end of the year,” Harris said.

The auctions are scheduled to begin Nov. 5, with $10,000 deposits required to participate in the bidding.

The Monticello Shopko at 200 W. Burnside Road was built in 1999, according to the listing, and is about 35,000 square feet.

The Tuscola Shopko at 700 Progress Boulevard was built in 2000 and is also about 35,000 square feet.

They both have leases that expire in May 2021.

The stores were Pamida locations until 2012, when that company merged with Shopko.

Michelle Hansen, a spokeswoman for Shopko, said the area stores aren’t going anywhere.

“Shopko doesn’t own the building. It’s owned by the landlord, so it could just be changing ownership,” she said. “I don’t have any info on any stores closing in Illinois.”

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