Golf Mill Town Center Mall in Niles, a decades-old mall that was set to be redeveloped as part of a new public-private partnership, could be put up for sale by the developer, the village confirmed to NBC Chicago.
The news comes less than a year after village trustees approved a $440 million plan to redevelop the aging mall, with Florida-based mall owner, Sterling Organization, as the developer. At the time, the village of Niles said it would provide $96 million in Tax Increment Financing (TIF) incentives to the developer, who would be reimbursed as the multi-phase project gets completed.
In a statement emailed to NBC Chicago, the Village of Niles said Mayor George D. Alpogianis has been in communication with Sterling Organization, and is “aware and is aware of their intention to explore a potential sale and attract additional investors for the Golf Mill Shopping Center project.”
The statement added that the village was not concerned about the status of the redevelopment project, and that it remains confident in in its “long-term vision for Golf Mill,” and that the plan to move forward with a public-private partnership is set to continue.
“The Village remains committed to revitalizing this key commercial corridor and delivering the transformative redevelopment our residents and businesses deserve,” the statement said.
According to a report from Crain’s, Sterling Organization, which purchased the mall for $60 million in 2014, hired commercial real estate company JLL to market the 1.1 million square-foot property, citing a marketing brochure. Neither JLL nor Sterling Organization immediately responded to NBC Chicago’s request for comment.
The redevelopment project was first announced in June of 2024. At the time, the village held public open houses and unveiled detailed renderings of what the redeveloped mall could look like, with plans for rebuilt stores, restaurants, luxury apartments — and even a new water mill.
Village officials had also previously said the project was “expected to create new businesses and jobs, and enhance the tax base for Niles schools and the village and expand Niles’ stock of luxury housing.”
“Throughout the years, Golf Mill has been known to be more than just a shopping center,” Alpogianis said in June. “For generations, families have celebrated traditions there; people of all ages have congregated there and our businesses have thrived there. The Golf Mill Town Center redevelopment is a catalyst for a renaissance of the mall, surrounding businesses and our village.”
The mall’s online directory shows the center is currently home to 44 shops and restaurants, and an AMC Movie Theater. The village in 2024 said the redevelopment plan called for nearly “everything on site” to be knocked down, except for the mall’s freestanding stores which include JCPenney, Target, Ross, Ulta and Burlington. A timeline was not provided.
The village also initially said the plan was intended to make the mall a place to “live, work and play,” with 70% retail and entertainment and 30% luxury housing in the form of apartment buildings, along with office buildings, a pedestrian promenade, medical facilities, a park and potentially a hotel.
Earlier this year, Alpogianis said the mall was one of two areas the village had plans to redevelop, with the other part being near the famous Leaning Tower of Niles, following the demolition of the Leaning Tower YMCA building last month. A press release from the village said nine acres of property there is set to transform the site into a “mixed-use development featuring retail, dining, and entertainment options,” though exact plans have not been determined.
“This is one of the areas that needed to get be brought up to speed,” Alpogianis said during the construction last month. “We’re giving people a gathering spot where they can hang out, they can shop, they can eat.”
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