Although an official announcement from the company is expected Thursday, the company has still yet to receive official approval.
IKEA has been considering expansion into the Milwaukee area for nearly a decade. Currently the closest retail store is in the Chicago suburbs.
Ikea already has stores throughout Europe, North America, and the Middle East.
The new Southeast Wisconsin development is expected to be built along Drexel Ave. on Milwaukee's South side, which is an exciting proposal for some local residents.
"I have to say the mayor and a lot of people took the initiative and had the foresight to say ... lets get some strong anchor stores in here, and revitalize,” said Marilyn Blasczyk, Oak Creek Resident.