It was a sad day in Freeport on June 5, 2020 when it was announced that Freeport’s JC Penny store,
located at the Meadows Plaza would be one of 154 stores across 20 states that the retail giant would be
closing amidst its Chapter 11 bankruptcy settlement.

“Like so many other communities we were hoping our JC Penny store would be spared and live through
the COVID pandemic,” admits Freeport Mayor Jodi Miller. “But, given what we knew about the situation,
we knew it was unlikely. Even before its closing was announced our city and economic development
partners were already recruiting a replacement retailer and considering what it would look like to
completely redevelop the shopping center itself.”

Fast forward two years later and the city’s dreams had come true. In June of 2022 it was announced
that a new developer, Freeport, IL LLC, and its development manager Victor Baeten had been recruited
to purchase the Meadows Plaza and begin its redevelopment.
“Using Enterprise Zone, Tax Increment Financing, and Commercial Property Assessed Clean Energy tools
we were able to create the right incentives and financing package that helped to make the project move
forward” explains Jodi. “Mr. Baeten and his team have done a wonderful job in redeveloping the site
and bringing The Meadows back to life!”

With clothing retailer Marshalls as the new anchor of The Meadows, the shopping center has added new
retailers like Five Below and Pet Supply Plus and has attracted a new Beef-A-Roo franchise.
“Over the past several years we’ve seen a lot of new businesses like Starbucks, Casey’s, Dunkin Donuts,
and Harbor Freight open locations in our southside commercial corridor,” says Jodi, “But economic
development never sleeps.

 

Our goal is to build on the progress that has been made and to continue to
work hard in maximizing business retention and new development in all of Freeport’s commercial
areas.”