Niles 06-06-13

Page 1

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


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.