The Village of Lincolnwood is exploring the possibility of using eminent domain to take over and redevelop the longstanding Lincolnwood Town Center mall, according to a press release.
“The Lincolnwood Town Center, located at the intersection of Touhy Avenue and McCormick Boulevard, has been an iconic regional shopping destination for over 35 years,” the village said in the release. “The 31-acre site has been listed for sale several times in the past few years, and it is a prime opportunity for reinvigoration in an ideal location within Chicago’s North Shore.”
The village went on to say that the mall’s high vacancy rate “highlights the need” for the property to be redeveloped.
“The Village wants to assist developers with repurposing this property for the next generation of commercialretail, restaurant, and hospitality uses,” the release said. “Exploring eminent domain is one of the tools available to assist with redevelopment efforts.”
In 2022, loan servicer Torchlight Investors put the big suburban mall up for sale, just 14 months after filing a $48.9 million foreclosure suit against it, a report from Crain’s said.
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The mall had seen financial turmoil before.
In 2018, its largest anchor store, Carson’s, closed, with furniture retailer RoomPlace taking over the space. Three years later, the mall’s owner at the time, Washington Prime-Group, filed for bankruptcy protection.
After that, the mall’s previous owners and other stakeholders collaborated on a “Lincolnwood Town Center Concept Plan” to consider what redevelopment of the mall could look like, the release said, which was adopted by the Village Board in 2022. The plan outlines a number of mixed-use scenarios, including retail, residential, entertainment, commercial offices and more.
“The Lincolnwood Town Center Concept Plan will provide a long-term vision for the Town Center area and will influence the types and design of future redevelopment,” it said. “The Plan will also serve as a marketing tool to attract developer interest into the Town Center area.”
In July, developer JLL announced it was retained as the “exclusive advisor” for the sale of the mall, with 422,979 square feet of gross leasable area. The announcement described the mall, at 3333 W. Touhy Ave., as a “1990 vintage property.”
According to the village, the mall is the “largest redevelopment opportunity within Chicago’s inner-ring suburbs,” with the village “ready to assist with fruitful development.”
“A combination of location, 100% control of the main mall site, municipality support, and existing lease structures makes Lincolnwood Town Center a prime candidate for a sizable mixed-use redevelopment project with multi-family, service retail and office as potential end uses,” JLL marketing materials for the mall said.
According to its website, the mall is currently managed and leased by Friedman Real Estate, with more than 35 tenants, including a Kohl’s department store.
The village expects to continue exploring the possible exercise of eminent domain, the release said, with plans to discuss next steps for redevelopment at future board meetings.
Friedman Real Estate did not immediately respond to NBC Chicago’s request for comment.
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