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Update: Plaza is Under Contract to Be Sold

Evergreen Park Mayor James Sexton said Northbrook-based GMX Real Estate Group is under contract to buy The Plaza and it is slated for redevelopment soon. What would you like to see?

UPDATE: According to Bruce Provo, president of The Provo Group that owns and operates The Plaza, Northbrook-based GMX Real Estate Group is under contract to sell, however "the deal is not done yet."

A property long known as a community blight will get a major facelift soon, according to Mayor James Sexton.

Evergreen Park’s mayor said , a company whose core business involves shopping center development, according to its website, is in the process of purchasing  9500 S. Western Ave., and plan to redevelop it.

“To my understanding, you won’t notice The Plaza two years from now,” said Sexton.

The mayor shared the news in . 

According to Bruce Provo, president of the Kansas City-based The Provo Group, the company that owns and operates The Plaza, "They've (GMX Real Estate Group) signed contracts, but the sale has not closed." Provo said there are seill many legal and financial processes that the company and the village have to go through.

The 500,000-square-foot property has seen better days, Sexton said, and was a once bustling mall after opening in 1952. At one point, there was a grocery store, huge slide in the middle of the mall, and a movie theater among other features. In 2007, The Plaza survived a Christmas tree fire that shut down a section of the mall for two months. Before the fire, Provo said he and his company were trying to sell The Plaza.

, Chicago Real Estate Daily reported last July. Within a month, Chicago-based RE Solutions was named the court-appointed receiver for The Plaza.

Now, the first enclosed mall in the country stands about 40 percent vacant, but some hope was instilled in

Sexton said he spoke with GMX Real Estate Group, “but we’re kind of at a hold pattern.”

“They do have a contract, but there will be a month and a half before I think there’s any type of official announcement.” The new mall owners are eyeing new retailers, Sexton said. 

“We’ll take all the new retailers we can get here.”

Sexton did not say whether the company planned to convert The Plaza into an outdoor mall, like the however, said  “it’s all subject to their due diligence, and the retailers they’re going to sign on, so we’ll know more in about 45 to 60 days.”

Calls to GMX Real Estate Group were not returned.

, the sole department store in The Plaza, would stay, Sexton said. “The old buildings may come down. There may be new buildings. There certainly will be new retailers,” he said, “This is something that the people around here have been waiting for, for a long, long time.”

Sexton said he didn’t want to preempt the judge or the system, “but it well looks like it will be done, and there will be a new 500,000 square-foot retail development at The Plaza.” The project will bring in new tax dollars, new sales tax and new buildings, he said.

“It’s a good opportunity, it’s just getting started,” Sexton said.

"I truly wish them well," said Provo, "and I really hope they close."

Amy February 10, 2012 at 06:51 PM
We need higher end stores. Nordstrom, Bloomingdales, Whole Foods!
Bette Engemann February 10, 2012 at 07:43 PM
I would love to see Old navy, Kohl's, Charlotte Russe, JC Penny. Bring it on!!!
Jan McAuliffe February 10, 2012 at 08:12 PM
I'd love to see at least an outdoor mall with a mix of retailers -- some small, some large, but keep Carsons. Jan
kathy February 10, 2012 at 08:18 PM
Hopefully it wont be mostly empty like the strip malls around town.. 95th & Kedzie and 95thth & Franicsco for example.
Cathleen February 10, 2012 at 09:29 PM
I would love a Penny's or Trader Joe's!
Celeste Halko February 10, 2012 at 10:17 PM
Nordstrum!! Old Navy!! Gap!! Build-a- Bear!! Chico's!! Corner Bakery!! Gloria Jeans!!
James Mayer February 11, 2012 at 12:47 AM
Nothing says high end like Ruby Tuesdays and Golden Corral...geez.
Pocahontas February 11, 2012 at 03:39 AM
While foods or trader joes
Pocahontas February 11, 2012 at 03:40 AM
Whole foods...sorry
Diana Mazurski February 11, 2012 at 03:40 AM
I just joined PLanet Fitness the newest shop in the Plaza. Do I need to worry their lease would change and they will be out.
Renita Young February 11, 2012 at 05:21 AM
The last time I asked about that, the village said that it wouldn't be a problem.
anita garrison February 11, 2012 at 12:25 PM
Trader Joe's; Whole Foods; a nice, sit-down eatery-vietnamese,middle eastern,bbq.
Mocha February 11, 2012 at 07:54 PM
A Trader Joe's, Nordstrom, Cheesecake Factory, Aveda salon, DSW, Sonic and Crate & Barrel would be great shopping!!!
jmk February 11, 2012 at 09:05 PM
Whole foods or Trader Joe's! Mocha - I love your idea of Cheesecake factory too :)
Mocha February 12, 2012 at 02:00 PM
jmk - CF, One of my favorites, would be a great way to treat the family right in the neighborhood!
AKA February 12, 2012 at 05:33 PM
Keep Carson's and Lane Bryant. Add Trader Joe's, middle eastern food, Vietnamese food.
Brenda J. Griffin February 15, 2012 at 06:48 PM
Shops similar to the ones in the outddoor mall @ Orland Square Mall, SteinMart, Nordstrom's Rack, Ross, Old Navy, Marshalls, DSW and Justice. Also Trader Joe's
katy February 16, 2012 at 06:12 PM
Anything that will make the locals come and shop there would be appreciated.
valerie May 27, 2012 at 08:10 PM
I love to see a bed bath and beyond, Trader Joe's, Whole Foods DWS pier 1
DORRINE July 29, 2012 at 06:10 PM
a whole lot of decent and different eaterys like all the other big malls. keep carsons and add jcpenneys and Ross.
Carmen December 17, 2012 at 01:57 AM
I will like to see store that people like .like khols.sears.jc penney.victoria secret.winsor.debd,aeropostle,etc.it will bring people to the plaza.the plaza sucks nobody like to shop there no more.everybody goes to ridge or orland mall.n also a good food court we need in,the mall into the plaza.

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