Hyde Park Co-op spreads its wings
byA. LaBan
Among retail food cooperatives, Chicago's Hyde Park Co-op is one of the largest in the world, with over $33 million in annual sales and more than 24,000 members; the Co-op believes its 55th Street location may rank as the busiest single co-op store in the country. And Hyde Park Co-op is about to get even bigger, with the opening of a third store next week in a new shopping center at 47th Street and Lake Park Avenue in the North Kenwood neighborhood.
Store number three joins the Co-op's other two locations, the original Hyde Park Co-op at 1526 East 55th and the Mr. G Co-op on East 53rd, all of which are changing their names to "Co-op Markets" to reflect the group's focus on serving the larger South Shore community.
The original Hyde Park Co-op was founded as a buying club in an apartment above a bookstore near the University of Chicago in December 1932. The Great Depression was in full swing, and the Co-op's earliest members believed they could save money if they pooled their purchases and bought in case lots. After eight months, however, it was clear that savings weren't covering expenses. Co-op directors consulted with Paul Douglas, a University of Chicago economics professor, who advised them to "either open a store at once or liquidate before you lose money." The Co-op subsequently expanded, opening its first store in October 1933, at 5635 South Harper. As sales grew to $4,000 a week, the Co-op relocated to larger quarters at 1464 East 57th in 1942. The new location had 100 grocery items and three checkout counters.
When the Co-op opened for business at its current 55th Street location, in October 1959, it was the largest supermarket in Chicago, with 22,000 square feet of retail space. By 1962, sales had reached $100,000 a week, and have been on the rise ever since. The original store now offers one of the widest selections of goods in the Chicago area, as well as a liquor store, video rentals, a bakery, coffee bar and in-store caf'. In addition, branches of the United Credit Union, which any Co-op member can join, and a U.S. Post Office are located on the lower level of the shopping center.
The Co-op's newest location marks the organization's first foray into the North Kenwood area. This full-service store will boast 40,000 square feet, compared to 35,000 for the 55th Street store.
"We support the rebirth of the community in North Kenwood, a neighborhood that has recently seen an influx of both affordable and market rate housing, as well as new schools like the Ariel Community Academy and the new University of Chicago Charter School, which is under construction," notes Brian Berg for Co-op Markets.
"Our 47th Street location will represent the first full-service grocery store to open in North Kenwood in fifty years," he adds. "We're striving to create a love affair with wonderful foods in a lively neighborhood. Our new store will be staffed by enthusiastic, knowledgeable personnel, one hundred of [whom] will be newly-trained residents of the North Kenwood neighborhood. We have an ongoing commitment to the community. We plan to promote from within and expect to create additional jobs for more local hires."
Becoming a member and shopping at any of the three stores is easy: Just stop by the member services desk at a store and fill out an application (or, soon, online at www.coopmarkets.com). A minimum one-share purchase ($10) is required, although the co-op's bylaws allow for members to purchase up to 1,000 shares. The new member is issued a member number, which is thereafter presented at the checkout in order to get a year-end refund.
Member benefits include a voice in the management of the Co-op, as well as some more tangible and quantifiable perks, including:
* A patronage refund at the end of our fiscal year, the amount of which depends on the purchases made by the member and the profitability of the Co-op as a whole;
* Limited interest paid annually on your investment. The rate varies, but is usually slightly higher than the going rate on a commercial bank savings account;
* A 5 percent discount on all purchases on Member Day, which is the third Thursday of every month. During October, which is Co-op Month, every Thursday is a Member Day;
* A subscription to Evergreen, the co-op's monthly newspaper, which contains an additional 5 percent off coupon that can be used any day. Members are also offered free classified ads in the Evergreen.
Co-op Markets (7am-11pm daily):
Hyde Park Shopping Center, 1526 East 55th, (773)667-1444
Kimbark Plaza Shopping Center, 1226 East 53rd, (773)363-2175
Lake Park Pointe Shopping Center, 1300 East 47th, (773)268-4700
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