West Dundee trustees Monday approved the purchase of the former Macy’s store at Spring Hill Mall. The village will pay $1.25 million for the building and the 8.6 acres it sits on.
The village of West Dundee will soon own a piece of Spring Hill Mall.
Trustees Monday unanimously approved an ordinance to purchase the former Macy’s building. The village will pay $1.25 million for the 123,000-square-foot building and the 8.6 acres it sits on at the mall. The village expects to close on the property, owned by Macy’s, in June.
“I think it’s a good decision we’re making,” West Dundee Trustee Andy Yuscka said. “We’re taking an active role in the future of the mall.”
In a news release Thursday, Village President Chris Nelson said one of the hindrances to the mall’s redevelopment is the multiple property owners and various covenants on the property.
“Almost uniformly, each developer with whom we spoke stated that the site has too many complications – too many owners, too many covenants, too many uncertainties,” he said. “The village’s aim is to bring simplicity to the process so reliable developers with established track records will be interested in partnering to reformat the area. Without
municipal intervention, that simply won’t happen.”
Nelson said the village wants redevelopment of the property but does not favor simply filling mall space to fill space. He anticipates that the Macy’s building will eventually be demolished.
More here.
Related: “‘Value is in the land’: West Dundee looks to buy Macy’s spot with eye on redeveloping Spring Hill“
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