Business

Bank that began in Evanston is for sale

Privately held GreatBanc Inc. is up for sale, Crain's Chicago Business reports. The bank, founded in 1914 as Evanston Bank, now is parent to three separate Chicago-area banks. One of those, GreatBank Chicago, has a branch in Evanston at Main Street and Chicago Avenue, across the street from the bank's original location.

Crain's says experts believe the bank, with $1.2 billion in assets, will likely sell for about $200 million.

Trader Joe's rejects Osco site

Alderman Ann Rainey, 8th Ward, reports on her message board that Trader Joe's has told city officials the company is no longer interested in opening a store at the former Osco Drugs location at Oakton Street and Asbury Avenue.

Ald. Rainey says company officials told the city the site is too far south in the market area and that they would like to be close to another large grocery store.

Downtown tax district up for renewal

Downtown property owners could be in for a tax increase soon.

The board of EvMark, Evanston's downtown marketing organization, meets Oct. 11 to develop a proposal for renewing the special services area agreement that boosts downtown property tax bills to pay for special maintenance and marketing services.

First condo owners move into Sherman Plaza

The first residents have started moving into the Sherman Plaza development downtown, 10 years after the project was first proposed. The Daily Northwestern reports less than 10 percent of the new owners have moved in so far, and the move-in process is expected to continue for almost a year.

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