Rising Rents Prompt Wrigleyville's Decades-Old Bookworks To Close This Fall
By Stephen Gossett in News on Aug 2, 2016 4:41PM
Bookworks / Facebook
Chicago is about to lose one of its longest-running independent bookstores; and Wrigleyville will lose one of its last links to the old neighborhood in the process. Bookworks, a specialty retailer of used books and a Clark Street staple since 1984, will close the doors on its brick-and-mortar shop this fall, according to a report by Crain’s.
Co-owner Ronda Pilon confirmed the closure, telling Chicagoist that increased rents and frequent construction in the area drove the decision. Pilon said that Bookworks’ landlord raised rents this past January after feeling pressured to keep rates at market level. Also, construction projects on W. Newport Ave. have interfered with parking; and lane closures along Clark Street have caused decreased visibility, Pilon said. “A lot of our exposure has been cut off—including to tourists,” she told Chicagoist. “That’s a big factor.”
Another familiar culprit has negatively impacted revenue: online pricing. “Before online, if a book was scarce, one had to call or walk to used bookstores. As supply jumped, competitive pricing went down,” she said. But Bookworks’ model relied less on squeezing profit margins. “Our goal was always to turn books over and not wait for that one extra dollar. We emphasized quick stock turnover,”
Pilon said the neighborhood itself has changed right along with the book-retailing industry. “Its hard to imagine Wrigleyville 32 year ago. There was no glitz and no flair. It was a really different place. We arrived with only 4000 books and built the shelves ourselves. I don’t know if we could do that today.”
Bookworks plans to close on Oct. 15. The shop is running a staggered sale in the meantime. Books are 25 percent off the used price through Aug. 15, then 50 percent off the used price until at least September.
Pilon and co-owner Bob Roschke will continue to offer used books through their online shop after the closure.
[H/T Crain's]