Tony Grandson holds his spot in line as he waits for Ikea to open its first Miami-Dade store to customers in Sweetwater, Fla., in 2014. Ikea has selected roughly 30 acres west of I-94 and north of W. Drexel Ave., according to a source. Credit: Associated Press

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Ikea is planning its first Wisconsin store for a large site along I-94 in Oak Creek.

The Swedish furniture and home goods chain, which has been considering the Milwaukee area for nearly a decade, has selected roughly 30 acres west of I-94 and north of W. Drexel Ave., according to a source.

That source, who characterized it as "a done deal," said the announcement is scheduled for Thursday.

A major announcement is scheduled for 10:30 a.m. Thursday at City Hall, according to Gary Billington, a former Oak Creek Community Development Authority board member.

Billington was invited to the announcement, but said he has no idea what it involves. He did say there have been rumors about Ikea and other large retail chains that might be interested in the Drexel Ave. site.

Mayor Steve Scaffidi could not be reached Monday for comment. Ikea spokesman Joseph Roth said plans for a possible Milwaukee-area store haven't received internal approval.

The future Ikea store is part of a larger site, with more than 100 acres, that has long been owned by Northwestern Mutual Life Insurance Co. Inc.

Northwestern Mutual in January said it was considering a possible mixed-use development at the Oak Creek site, revising a plan the company first discussed around five years ago.

The company operates its Franklin campus north of W. Drexel Ave. and west of S. 27th St., west of the future Ikea store.

A Northwestern Mutual spokeswoman declined to comment on whether Ikea will be part of the Oak Creek project.

"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 the best use of the property we own," said Betsy Hoylman, corporate communications director, in a statement.

The Ikea location will take advantage of its position near the I-94/Drexel Ave. interchange, which opened in 2012.

The city paid for half the costs of that interchange, which helped encourage the development of Drexel Town Square, a $162 million project that includes apartments, stores, restaurants, a hotel, a health care facility and a new City Hall and Oak Creek Public Library.

Drexel Town Square is being built on 85 acres south of W. Drexel Ave. and west of S. Howell Ave.

Ikea has been considering the Milwaukee area since 2007, including a Wauwatosa site west of Highway 45/I-41 and north of W. Watertown Plank Road.

The retail chain operates stores throughout the world, including the Chicago area.

Ikea stores often range upward of 300,000 square feet, and include such features as a supervised play area for children and in-house restaurant.

An Ikea store in Oak Creek would draw more interest from developers to the S. 27th St. commercial corridor that is the border between that city and Franklin, according to Franklin Mayor Steve Olson.

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