Kmart site redevelopment announcement still expected before end of the year

The Kmart mystery in La Crosse will continue for another week, at least.

The city’s planning department told WIZM negotiations between an unnamed local developer and the New York-based company that owns the old Kmart on State Road have been successful.

There, however, has not been a closing date set, yet, for the sale of the property.

Information, however, could come as soon as next week on who the developer is and what sort of plans it has for the 10.5 acre site, which is assessed at around $6.5 million. It generates $188,000 annually in local property tax revenue.

Many neighbors have expressed a desire to have a similar big box store move into the site but that’s apparently not in the cards.

Kmart closed more than a year ago and the company’s lease on the site just ran out at the end of last month.