Location

Starbucks Corp. has announced that of the 18 Chicago-area locations slated to close within the year, two are local: the Beverly store at 2347 W. 95th Street, and the Evergreen Park store at 87th and Kedzie.

The company intends to close 600 company-operated stores nationwide (8% of its portfolio) to help alleviate the effects of the slowing economy. The shutdowns will begin March 2009 and will cut the company's global workforce by as many as 12,000.

CEO Howard Schultz has said that the decision to open the 600 stores - all opened in just the last two years - was a poor real-estate decision that basically saturdated the market.

The announcement brings into question the fate of the proposed Starbucks at the stalled Walgreens development on the northwest corner of 111th and Kedzie. That project - already months behind schedule - could make or break the neighborhood's economic development prospects.

It also brings to mind other recent closings of independent coffee outlets, namely Beverly Bean (on 111th and California) and Cafe Luna (at 99th and Walden). Has the coffee craze lost its steam, or has Starbucks ruined the market for independent chains?