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IKEA To Expand Presence In Chicagoland And U.S. With Plans For Store In Bolingbrook, IL

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Plymouth Meeting, PA ? IKEA, the world's leading home furnishings retailer, today announced plans to build a store in Bolingbrook, IL as its second store and restaurant destination in the Chicagoland area. (IKEA Schaumburg opened in 1998 at Route 53 [I-290] and the Northwest Tollway [I-90].) Pending city approval, construction of the proposed IKEA Bolingbrook could start as early as Fall 2004, with an anticipated opening date of Fall 2005. Bordered by the I-355 North-South Tollway on the east, Boughton Road on the south and Janes Avenue on the west, the 21-acre site would include a 310,000 square foot IKEA store at-grade with 1,300 parking spaces. Envisioned as part of a planned retail commercial center, this store would reflect the unique architectural design for which IKEA stores are known worldwide. "We are very excited about expanding our presence in the Chicago market with IKEA Bolingbrook. From the success of our store in Schaumburg, we know there are many IKEA customers in the area who would visit us more frequently if there was a store closer to them," said Pat Smith, IKEA real estate director. "We have been looking quite a while for the right location and we are confident that IKEA Bolingbrook will accommodate potential customers ? particularly those from the Southwest suburbs ? who have been tempted to shop in Schaumburg, but have not done so." In addition to nearly 10,000 exclusively designed items, IKEA Bolingbrook will feature five model homes, 50 room settings, a supervised children's play area, as well as a 300-seat restaurant serving Swedish specialties such as meatballs with lingonberries and salmon platters. Other family-friendly features will include a 'Children's IKEA' area in the showroom, baby care rooms, preferred parking and play areas throughout the store. IKEA Bolingbrook will differ slightly from IKEA Schaumburg, which was built as a store designed originally to serve the entire Midwest. The company since has modified and developed a prototypical store design and layout now being built as IKEA expands in the U.S. Besides jobs created during the construction phase, approximately 300 co-workers will join the IKEA family when the new store is fully built. IKEA Bolingbrook will provide significant annual sales tax and property tax revenue benefits for local governments and schools. "We also look forward to being a partner in the local community," continued Smith. IKEA currently has more than 195 stores in 32 countries, including 18 in the United States. For its U.S. expansion, the company is aiming to open about five new stores a year, balancing an effort to strengthen its presence in existing markets while also entering new markets. Other U.S. stores being planned include: Atlanta, GA; Bloomington, MN; Brooklyn, NY; Dublin, CA; Frisco, TX; New Haven, CT; Philadelphia, PA; Somerville, MA; Stoughton, MA; Tempe, AZ; and a relocation in Houston, TX. Since its 1943 founding in Sweden, IKEA has offered a wide range of home furnishings and accessories of good design and function, at low prices so the majority of people can afford them. In 2003, IKEA was named in Working Mother magazine's list of "100 Best Companies for Working Mothers" and received the magazine's Family Champion award in recognition of the company's family-friendly programs. IKEA is recognized as a socially responsible company, and supports initiatives that benefit causes such as children and the environment. To visit the IKEA Web Site, please go to http://www.ikea-usa.com.

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