Yellow Banana, the owner and operator of eight Save A Lot locations in the Chicagoland area, has closed on a $26.5-million investment into grocery stores on Chicago’s South and West Sides. This project combines a $13.5 million Community Development Grant from the City of Chicago with New Markets Tax Credits, third-party financing and funding from Yellow Banana to make comprehensive upgrades to its existing stores as well as re-open a former Save A Lot at 7908 S. Halsted in Auburn Gresham that closed in 2020 – coinciding with Walmart’s permanent closure of four longstanding locations nearby.
Michael Nance, co-founder of Yellow Banana stated: “We are committed to providing residents on Chicago’s South and West Sides access to healthy, affordable food options through this repositioned quality grocery experience.” He went further by emphasizing local engagement is key for success: “We understand that local engagement and collaboration will make these stores successful.”
