Bolingbrook Promenade Sale in the Works: Report

Deal is slated to close in April.

Chicago-based Starwood Retail Partners is reportedly set to close on a deal to purchase the Bolingbrook Promenade.

A purchase price has yet to be disclosed, according to the Bugle, but last summer, the asking price was around $100 million. The mall opened in 2007.

In August, current owner Forest City Enterprises Inc. hired Cushman & Wakefield, Inc., to sell the 628,995-square-foot mall near Boughton Road and Interstate-355.

Tenants include Barnes & Noble, Bass Pro Shops, iPic Theaters and Binny's Beverage Depot, along with a slew of other retailers and restaurants. According to the Bugle, Macy's is not part of the sale, since it operates on its own property.

Forest City's initial investment in The Promenade was around $152 million, according to ChicagoRealEstateDaily.com and Crain's Chicago Business.

Starwood Retail Partners also operates the Louis Joliet Mall and Chicago Ridge Mall.
Linda Rogers March 27, 2014 at 09:01 PM
Monica higher end stores Coach, The Walking Co, Pandora,
Linda Rogers March 27, 2014 at 09:04 PM
The Ipic is a great theater. We have a less expensive theater on the other side of town, I do not think we need another.
Vicki Ivancevic March 27, 2014 at 10:17 PM
I would also consider J.Jill and Coldwater Creek to be in that tier as well. I know we are never going to get a Nordstrom or the like but it is better than Target, Wal-Mart or Kolhs.
Linda Rogers March 28, 2014 at 07:26 PM
Another higher end store, Janie and Jack.
Linda Rogers March 28, 2014 at 07:26 PM
And C'Zar salon.....


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