INSIDE
SPORTS Maine South wins sectional title PAGE 11
NEWS Suspect sought in three attempted child abductions
ONLINE More news at buglenewspapers.com
PAGE 5
Our Community, Our News
www.nilesbugle.com
JUNE 6, 2013
Vol. 57 No. 35
Want to buy a
MALL?
With ample parking, plenty of room and a nice location, Golf Mill Shopping Center could be yours for the right price By Alex V. Hernandez Staff Reporter
Golf Mill Shopping Center is listed as for sale by CBRE Group, Inc., the world’s largest commercial real estate services firm. The listing can be found at cbremarketplace.com and describes the
property as having $52 million in debt from its first mortgage, with a 5.958 percent interest rate, which is due on Nov. 1, 2016. The asking price for the mall was not mentioned in the listing. The listing further says that prospective buyers would acquire Golf Mill and assume that mortgage so a “repositioning plan” can
be developed. Whatever that plan is would have to be approved with the municipality of Niles, tenants of the shopping center and other stakeholders. The listing says that the debt would be paid off when the “repositioning plan” is ready to be put into action. In late 2011, Golf Mill owners lobbied
Niles officials to create a special business district that would increase the mall’s sales tax by 0.25 percent, equal to 25 cents on a $100 purchase. Mall owners argued that the revenue created by this increase in sales tax go toward $15 million worth of See MALL, page 3