Yorkville Costco plans for grand opening in time for holiday shopping season

With construction already breaking ground on Yorkville’s first-ever Costco, the warehouse might be ready just in-time for shoppers to add Thanksgiving turkeys to their carts.

Developers are currently estimating a mid-November grand opening for the shopping warehouse.

With the significant buzz the new Costco has generated in the community, shoppers this Turkey Day will have a lot to be thankful for.

Construction workers are currently transforming the 33.14 acre site at the northwest corner of Veterans Parkway and Countryside Parkway in the Yorkville Crossing development area.

Once completed, the 160,000 square-foot shopping warehouse will also be accompanied with a gas fueling facility that will house 16 gas pumps with 32 fuel dispensers. Costco wants to eventually expand to include 20 gas pumps with 40 fuel dispensers.

Work on the parking area includes developing 956 parking stalls.

The members-only shopping warehouse is expected to generate as much as $1 million annually in sales taxes for the city. City officials believe the store will attract shoppers from outside Yorkville to help generate sales tax revenue for the city’s coffers.

Bringing Costco to Yorkville involved enticing the company with a city-approved incentives package.

Costco is receiving a $10 million sales tax rebate from the city, which will most likely be paid off between 10-20 years, according to documents of the agreement.

Costco representatives requested assurances from the city that they would not increase the current non-home rule sales tax or any future home-rule sales tax. They also requested assurance the city would not implement a home rule gas tax, according to city documents.

The city currently has a 1% non-home rule sales tax.

In addition to Costco generating large sales tax revenues for the city, City Administrator Bart Olson said the economic incentives package was favored because of the number of jobs it will provide for the city’s residents, for the property taxes the development will generate, and for the project’s ability to strengthen the city’s commercial sector.

The current property owner of the 33.14-acre development site is Joda Land Holding, LLC.