Little Village's Discount Mall will stay open, see 'long overdue' upgrades
CHICAGO (CBS) – The beloved Discount Mall in Little Village will not only remain open after its future was in limbo earlier this year but will receive "long overdue" upgrades.
Novak Development, announced on Monday the signing of a lease for one of the two mall operators in the Little Village Plaza. This means the mall will continue to host vendors.
The facility improvements, Novak said, will provide a safter, more welcoming environment for shoppers and members of the Little Village community.
"We are pleased to deliver this asset for the neighborhood," said John Novak, founder and president of Novak Development, in a statement. "The plan has been in the works since we purchased the property three years ago, but we couldn't talk about it until the lease with the Pilsen Plaza Corporation, the owner and operator of the discount mall, was secured."
The improvements will include new building facades and roofs, a new surface parking lot with an underground stormwater detention system, and new lighting, new landscaping, new signage, and other upgrades.
Pilsen Plaza Corporation will continue to license spaces to many of the vendors who do business in the Discount Mall.
The new lease runs 10 years with three 5-year options for a potential total of 25 years.