The Plaza Mall Misses Loan Payments
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CHICAGO- The owners of the 802,265-square-foot The Plaza mall located in Evergreen Park have missed payments on their loan of $20.2 million. The mall constructed by Chicago-based developer Arthur Rubloff lost some key tenants recently.
One of the owners noted that revenue has dropped by nearly 50% in the last three years. Presently, spaces for small shops in the mall are 60% leased. The loan is due by April 2016. For the full story, go to Crain's Chicago Business.
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Categories: Midwest, Retail, Distressed Assets, Chicago
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