By the next holiday shopping season, a new set of retail stores is expected to draw customers to the site of the former Menards along John Deere Road in Moline.

HI Moline LLC, owned by Harlem Irving Companies, Chicago, has purchased the 79,000-square-foot building at 4100 10th St., in the shopping center off 7th Street where Target, Kohl’s and Hy-Vee are located.

The company plans to renovate the building to house several retail outlets, including Hobby Lobby, a national arts and crafts chain store with a retail outlet in Bettendorf.

Ray Forsythe, Moline’s planning and development director, said the tax agreement reached with the company and the city calls for tenants that are not currently doing business in Moline.

“It is a performance-based redevelopment agreement with the owners,” he said. “It requires (all stores) to be new to Moline. They had a pretty short list of retailers they are negotiating with.”

Although some store names have been discussed, he said Hobby Lobby is the only one that has requested building permits and that Hobby Lobby “is taking the majority (space) of the center.”

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According to its website, Harlem Irving Companies was established in 1954 with the development of Harlem Irving Plaza, a 300,000-square-foot shopping center on Chicago’s northwest side. Harlem Irving has several shopping centers in the Chicago area and others in downstate communities.

The old Menards store was vacated in April after a new Menards opened at 6400 44th Ave., off John Deere Road.

Forsythe said HI Moline LLC plans to take down fencing and the lumberyard, create a new facade, renovate the interior and add landscaping and parking. The company said demolition of the lumberyard will allow it to add another 5,000 square feet of retail space.

“They are hoping to be under construction this spring, with a goal to open before Christmas this year,” Forsythe said.