Closing time: Spring Hill Mall to ring up last sales on March 22
The largely vacant Spring Hill Mall will close on March 22, according to a letter sent to tenants on Wednesday.
“We are grateful for your partnership since we acquired Spring Hill Mall on July 16, 2021,” the letter from the mall’s owner states. “Unfortunately, Spring Hill Mall will close its doors permanently on March 22, 2024.”
The letter says all mall leases, which were month-to-month, are terminated and that tenants should work with the mall manager, Denise Richardson, to facilitate their move out of the mall.
A representative from Kohan Retail Investment Group, which owns the mall, could not immediately be reached for comment on Thursday.
West Dundee, which already owns the former Sears and Macy’s buildings, plans to purchase the mall, which straddles West Dundee and Carpentersville.
One of the conditions of the village’s deal with Kohan was that tenants, except for a movie theater and Kohl’s, vacate the mall.
West Dundee Village President Chris Nelson said he learned of the letter on Thursday and has not spoken with anyone from Kohan since it went out.
But, he said the latest development was a “significant step.”
The village last year closed on deals to buy the former Sears property for $2 million and the shuttered Macy’s store for $1.25 million. In October, village trustees agreed to spend $7 million to buy the rest of the mall.
The pending deal does not involve the Kohl’s store, which is separately owned and will remain, officials said.
Nelson said he expects West Dundee to officially acquire Spring Hill from Kohan shortly after the mall’s final day.
As for what happens with the mall once the village takes ownership, Nelson warned change will take some time.
“It’s going to be a long process,” Nelson said. “It’s not going to be two years, and you see a whole new thing pop up. It doesn’t work that way. This is likely something with a five- to 10-year runway.”
Within the next two months, a consultant working with the village expects to provide an updated land use review for the mall property, Nelson said.
Demolition of portions of the mall likely would take place within 12 to 18 months after the village takes ownership, he added.
The village has frequently said it envisions a mixed-use development on the property with residential, entertainment and retail.
Nelson said the movie theater will be allowed to stay at the mall once the village takes ownership of the property. In addition, the Kohl’s store, which is on the Carpentersville side of the mall, will remain.
Carpentersville Village President John Skillman said the village is working with Kohl’s and encouraged any tenants on the Carpentersville side of the mall to contact the village about possible relocation sites.
Nelson said the village will post information about the mall’s closure and the village’s plans to buy the property on its website.