Bolingbrook Promenade for Sale at a Cost in Excess of $100 Million: Report

Have $100 million sitting around somewhere that you don't know what to do with?

Well, then perhaps you might be interested in purchasing The Promenade Bolingbrook, local shopping center that is up for sale, according to ChicagoRealEstateDaily.com and Crain's Chicago Business.

In a report issued Wednesday, ChicagoRealEstateDaily.com said Forest City Enterprises, Inc., has hired Cushman & Wakefield, Inc., to sell the 628,995-square-foot mall near Boughton Road and Interstate-355.

The pricetag is said to be in excess of $100 million.

Even that could represent a loss for Forest City Enterprises, according to the ChicagoRealEstateDaily.com report, which pegged the company's initial investment in the mall property at $152 million.

Ford City has sold off land parcels since then, according to the ChicagoRealEstateDaily.com report.

"This is a bigger, more complex property than a grocery-anchored center," stated James Schutter, senior managing director in the Chicago office of Newmark Grubb Knight Frank in the report. "It takes a large player to come in and say, 'I feel comfortable with this type of investment.' "