That's certain to put more profit-margin pressure on established competitors, particularly independents like Chicago-based Edward Hines Lumber Co. and Seigle's Home & Building Centers Inc. in Elgin. Industry observers vividly recall the demise of such local players as Courtesy Home Centers Inc., Gee Lumber Co. and Handy Andy Home Improvement Centers Inc. after Home Depot's arrival earlier this decade. "When Lowe's entered Dallas two years ago and went against Home Depot there, prices declined," says Don Hoye, president and CEO of TruServ. "I look for Lowe's to offer substantially reduced prices here when it opens its first stores. Chicago could possibly become the most intensely competitive market in the U.S. In fact, according to Editor & Publisher magazine in New York, Chicago is the nation's largest hardware market, with an estimated $4.32 billion in retail sales in 1998.