Chicago suburb approves $7 million purchase of Spring Hill Mall for redevelopment plan
CHICAGO (CBS) -- Village trustees in West Dundee have agreed to a $7 million purchase of the Spring Hill Mall, in hopes of redeveloping the site.
Mayor Chris Nelson said the village is buying the struggling mall to turn it into a mixed-use area featuring retail, residential, and entertainment spaces.
The Board of Trustees voted unanimously Monday night to spend $7 million to buy the property.
"The Village of West Dundee is pleased that substantial progress is being made in the effort to revitalize the Spring Hill Mall area. This latest step is critical, and one that sets the stage for the next phase, which is the recruitment of development partners," Nelson said after the vote.
The sale is expected to close early next year.
The village is looking for a development partner for the site.