IKEA could build store at Northwestern Mutual development site in Oak Creek

OAK CREEK -- IKEA could build a store at Northwestern Mutual’s development site northwest of the interchange at Interstate 94 and West Drexel Avenue in Oak Creek, according to several real estate sources, the Milwaukee Business Journal is reporting.

According to the Business Journal, rumors of the retailer’s interest in Oak Creek have been swirling for months.

The retailer is reportedly looking at 30 acres Northwestern Mutual is negotiating with Oak Creek officials to develop north of Drexel Avenue. It would be the Swedish furniture retailer’s first Wisconsin store.

IKEA currently has a store in Schaumburg, Illinois.

According to the Business Journal, IKEA officials looked at sites in the Milwaukee area about a decade ago, focusing on land west of Oconomowoc in Waukesha County. However, the plans never moved forward.

Oak Creek officials are scheduled to hold another private, closed session meeting during a Common Council meeting Tuesday, May 3rd over a potential development agreement with Northwestern Mutual over the land.

Those incentive discussions stretch back at least to December, according to the Business Journal.

Officials at the city of Oak Creek did not respond to repeated calls for comment from the Milwaukee Business Journal.

Betsy Hoylman, Northwestern Mutual director of corporate communications, responded to questions about the property with an emailed statement that said:


"Because our suburban campus straddles the borders of Franklin and Oak Creek, we support economic development in both locations. We will continue to work with the local communities to identify best use of the property we own."



Officials at IKEA were not immediately available for comment, the Milwaukee Business Journal reports.