Updated 4/12/2021 8:49 PM
Northbrook Court may be up for sale, possibly raising doubts about the massive renovations in progress, Crain s Chicago Business is reporting.
Barings, the mall s lender, has been interviewing brokers, the report says, citing people familiar with its plan. The mall s owner, Brookfield Properties, which also owns Oakbrook Center in Oak Brook, Water Tower Place in Chicago and Spring Hill Mall in West Dundee, stopped making mortgage payments months ago, according to Crain s.
Northbrook Court is in the process of a $250 million makeover approved two years ago by the village that includes a mix of retail and residential, but project was put on hold due to the pandemic, incoming Village President and current Trustee Kathryn Ciesla said in an interview leading up to the April 6 election.
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Northbrook Court’s turnaround plan, approved by the village in 2019, included 315 apartments, a grocery store and a food hall.
Northbrook Court was on the cusp of a comeback in December 2019, when crews began demolishing a shuttered Macy s department store there, a key early step in a $250 million makeover of the mall subsidized by the village of Northbrook.
The Macy s is long gone. A vast wall of exposed concrete where it attached to the mall offers one remaining visible trace. Banners proclaiming Great Things Are Coming and Exciting Things Underway hang on construction fencing surrounding the site where the massive store once stood.
Northbrook Caucus candidates prevail in village president, trustee races
From left, Northbrook Caucus trustee candidates Joy Ebhomielen and Muriel Collison, Village President candidate Kathryn Ciesla and trustee candidate Dan Pepoon stand together during an election night party Tuesday. Joe Lewnard | Staff Photographer
Northbrook Caucus candidate for Village President Kathryn Ciesla, right, views early returns with Tracy Katz Muhl during an election night party Tuesday. Joe Lewnard | Staff Photographer
Northbrook Caucus candidate for Village President Kathryn Ciesla awaits election results during an election night party Tuesday. Joe Lewnard | Staff Photographer
Northbrook Caucus candidate for Village President Kathryn Ciesla awaits election results during an election night party Tuesday.
Gene Marks: Candidate For Northbrook Village President patch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from patch.com Daily Mail and Mail on Sunday newspapers.
Northbrook village president highlights transition in her final State of the Village address
Northbrook Village President Sandy Frum, in her final State of the Village address, discussed the challenges and highlights of her tenure especially during 2020. I knew my last year as president would be memorable. But I never imagined it would be like 2020. Joe Lewnard | Staff Photographer
Northbrook Village President Sandy Frum delivered her final State of the Village address virtually last week. She was first elected to the board of trustees in 1987 and elected president in 2009. Joe Lewnard | Staff Photographer
Village President Sandy Frum reported during her final State of the Village address that salex tax estimates are $1 million over revised projections, the budget s 40% reserve remains intact and the village s portion of the tax bill remains flat.