DOWNERS GROVE – These are tough times for the Grove Shopping Center.
The large strip mall at the northwest corner of 75th and Main streets lost two major anchor stores earlier this year, and other smaller businesses also have departed.
The loss of the two anchor stores is not only bad for appearances but harmful to other shops and restaurants in the mall that count on a steady flow of traffic to succeed.
Recent erroneous reports that the mall is in foreclosure doesn’t help the matter.
“It’s not helpful when misinformation is out there,” said Michael Cassa, president and CEO of the Downers Grove Economic Development Corp.
But Cassa believes better days are ahead for the shopping center.
His organization and the village of Downers Grove are working diligently to attract new businesses – a goal that will take some time but is achievable, he said.
“Do I think it will happen overnight? No,” Cassa said. “We are having serious conversations with commercial developers and tenants for that center, and we’re getting interest.”
Cassa declined to say what types of retailers have expressed interest in the center.
Ultra Foods’ departure occurred when several other stores in the regional chain closed their doors.
Ultra Foods is part of the Strack & Van Til supermarket chain owned by Central Grocers, a grocery cooperative headquartered in Joliet.
Michaels’ closing was part of the retailer’s plan to open two new stores in its place, one which is in Finley Square, Cassa said.
“We retained Michaels as a business in Downers Grove,” he said.
Two significant challenges make it difficult to breathe new life into the Grove Shopping Center.
First, the mall involves 18 owners – 14 who own properties on the out lots that surround the mall, and four who control the inline properties, Cassa said.
“The center was [initially] sold off in pieces,” he said. “That’s one of the challenges.”
For example, numerous owners can make negotiations with potential retailers difficult, especially if they are interested in moving into multiple spaces not owned by the same company, Cassa said.
By contrast, the Downers Park Plaza at the northeast corner of 75th and Main streets has a single owner that also handles leasing and property management, he said.
The second hurdle is one being faced throughout the retail industry.
“Part of the context of this is what’s happening to shopping all over the country,” said Cassa, who added the continual growth of Amazon and the rise in retail bankruptcies are significant concerns for retailers.
The local business community was surprised when Sam’s Club, located nearby in the Centerpointe of Woodridge mall, closed June 30 after 24 years in the village, he said.
The various challenges will not deter the Downers Grove Economic Development Corp. from advocating on behalf of the Grove Shopping Center.
Cassa stressed the mall is home to several thriving businesses including Marshalls, Toys R Us and Harlem Furniture. Ashyana Banquets at the west end of the mall is the largest standalone banquet facility in the village. Specialty stores, such as Pro Jersey, also occupy some spaces.
“There’s a host of restaurants,” he added.
Initial plans for the property from more than 30 years ago called for the development of a mall similar to Yorktown Center in Lombard. Those plans never materialized and are part of the reason the property has a massive parking lot.
“There are not a lot of large retailers looking for new locations,” Cassa said. “But we have been talking to real estate developers, real estate brokers and retailers.”