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Yellow Banana to leverage $13.5 million Community Development Grant from the City of Chicago to reposition stores across the City’s South and West Sides and Re-open Previously Closed Location in Auburn-Gresham Neighborhood
Yellow Banana, the owner and operator of eight Save A Lot locations in the Chicagoland area, today announced the receipt of a $13.5 million Community Development Grant from Mayor Lori Lightfoot and the City of Chicago that will enable Yellow Banana to invest in significant upgrades to its existing Chicago stores, as well as to re-open a location in the Auburn-Gresham neighborhood that closed in 2020. The City’s grant, combined with other financing and funding from Yellow Banana, will bring approximately $26 million in investment into six locations in underserved communities throughout the City’s South and West Sides.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220719006122/en/
A digital rendering of the Save A Lot Yellow Banana plans to purchase and re-open in Chicago’s Auburn-Gresham community. (Photo: Business Wire)
Yellow Banana is owned by 127 Wall Holdings, LLC, which was co-founded by Michael Nance, Ademola Adewale-Sadik and Walker Brumskine. The three met while earning JDs from Yale Law School; Adewale-Sadik and Brumskine also earned MBAs from Harvard Business School. They are joined by seasoned operator and 127 Wall co-founder Joseph Canfield. Yellow Banana, which currently owns and operates 38 stores in Cleveland, Chicago, Milwaukee, Jacksonville and Dallas, endeavors …
Full story available on Benzinga.com
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