West Dundee will soon own a piece of the Spring Hill Mall.
Trustees Monday unanimously approved an ordinance to purchase the former Macy's building. The village will pay $1.25 million for the 123,000-square-foot building and the 8.6 acres it sits on at the mall. The village expects to close on the property, owned by Macy's, in June.
In a news release Thursday, Village President Chris Nelson said one of the hindrances to the mall's redevelopment is the multiple property owners and various covenants on the property. Nelson said the village wants redevelopment of the property but does not favor simply filling mall space to fill space. He anticipates that the Macy's building will eventually be demolished.
Village officials envision a mixed-use development with residential, entertainment and some retail. Earlier this year, trustees approved a new and expanded tax increment finance district to help entice developers to the property.
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