Editor’s note: This version corrects the name of Pappas Development,  the square footage of the planned supermarket and the anticipated opening date.

SYCAMORE | Officials with the Iowa-based supermarket chain Hy-vee Inc. have announced plans to set up shop in Sycamore.

The company has leased the former K-Mart location in the Sycamore Plaza shopping center at 2700 DeKalb Ave. The location is currently owned by developer John Pappas of Pappas Development, DeKalb.

With so many other supermarkets in the area, Pappas spoke about the competition and how said he feels Hy-vee will match up.

“They will do great because they are better and have more competitive prices,” Pappas said.

Hy-vee is an employee-owned company that continues to spread across the Midwest. This will be just one of 12 locations in Illinois alone.

“Our understanding is that Hy-vee is very community-oriented, and I am excited about what they will provide for the city,” said Sycamore Mayor Ken Mundy. “We are especially happy with the 350 to 400 jobs it will provide as well as the expected increase in sales tax, property tax and revenue.”

When the former K-Mart was closed by the cooperation, the area failed to produce expected revenue for the city as it had in the past, Mundy said.

“The area where it is going to be built was extremely productive for many years, it is a very commercial location,” Mundy said. “I expect it to do well.”

Pappas said the 93,000 square foot supermarket is targeted to open June 23.

“It will be a full-line grocery store, liquor store and will also feature a food court,” Pappas said.

Dennis Ausenhus, senior vice president of real estate and engineering for Hy-vee, said this location was selected after looking at several alternative sites in the DeKalb and Sycamore area.

“Hy-vee has shown in the past that it can succeed in university communities like this,” Ausenhus said.

Ausenhus said Hy-vee expects big things and sees great potential for Hy-vee in this market.

“Hy-vee is the cream of the crop when it comes to supermarkets, a top notch company,” Pappas said.