ST. CHARLES – Although city leaders have concerns about the future of Charlestowne Mall, at least one mall anchor still has faith in the mall and has not been shaken by this week's announcement that Sears will leave.
Chris Johnson, vice president of Tivoli Enterprises, the operator of Classic Cinemas, said his company is sad about the department store's news but plans to extend its lease for five years.
"We're confident in our operation," he said Thursday.
"We plan on staying in St. Charles, and obviously the success of the mall is very important to us, but [Sears' impending closing is] not the end of the world."
Johnson said he is going to be optimistic about the plans, such as an ice rink, that owner Charlestowne Mall Investments has for the 20-year-old property.
"I'm excited about any activity that leads to more people," Johnson said. "I think anything that brings traffic to the mall – no matter what the attraction or store or food – is positive. And I think the first step in any revitalization of the mall is just bringing that foot traffic through."
Second Ward Alderwoman Betsy Penny represents the area that includes the mall, and she views the situation differently.
The movie theater already creates traffic, she said, but many moviegoers don't explore the rest of the mall. Charlestowne needs retail, she said, noting eastside residents would love more options.
"Just bringing more people in isn't good enough for me," she said.
"It's great to bring people in, but if you don't have anything but that, how will that help with sales tax revenue?"
Alderman Cliff Carrignan, also of Ward 2, said the mall needs to create a balance of having the right restaurants, entertainment and stores.
Both he and Penny said the mall is important to their constituents.
"When I talk to residents around the mall, the first question is, 'What's going on with the mall?' " Carrignan said.
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The success – or failure – of Charlestowne Mall affects more than just its tenants. Lori Hewitt, president of the St. Charles Chamber of Commerce, said a strong business not only helps the city with its sales tax revenue but also its neighboring retailers and restaurants.
"I'm hoping that the entertainment features and the new things happening at the mall will help to build St. Charles because it's needed," she said.
Sperry Van Ness / Landmark is the listing broker for Main Street Commons, a shopping center directly across from the mall.
Managing broker Neil Johnson and adviser Joel Miller said in an e-mail that all local retail centers share some customer activity, and that Main Street Commons has benefited from its proximity to the mall.
Changes at Charlestowne Mall could positively affect Main Street Commons, they said.
"A mix of entertainment uses will bring new customers to the mall and to the area, but it will take a lot more than an ice rink to bring it back to being a significant player," they said.
"However, any new activity will have a positive impact on Charlestowne Mall, and a stronger mall will strengthen Main Street Commons, our tenants, and the entire trade area."
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