The Burlington store will relocate from the Stratford Square Mall in Bloomingdale across the street to the former Kmart on South Gary Avenue later this year.
It is the latest anchor store to announce it is leaving the regional mall, which opened in 1981 at Gary Avenue and Schick Road, but has gone from 110 to 40 stores in the past two years.
Stratford Square has lost four other anchor stores within the last seven years: Sears, Macy’s, JCPenney and Carson’s.
Bloomingdale Village Administrator Peter Scalera said Burlington’s impending departure exacerbates a now-familiar story for Stratford Square, which has struggled to retain and attract businesses for several years.
Scalera, along with other village officials, say that Namdar Realty Group has done little to invest in the mall since purchasing it in 2019.
“This shows that the lack of commitment to reinvest in that property is causing existing businesses to leave in order to stay open,” Scalera said. “It gives us even more reason to come up with a plan to rejuvenate that area and make it economically viable again.”
Bloomingdale officials are making an effort to revitalize the area on their own. They hired Evanston-based consulting firm Teska Associates Inc. to develop ideas, and Scalera said the village is expecting to hear Teska’s concepts in March or April.
The Stratford Crossing development, also in Bloomingdale, has been actively attracting businesses in the past year.
T.J. Maxx opened a 49,000-square-foot store in at the Crossing in August 2020.
HOTWORX, a 24-hour infrared fitness studio, opened at the end of last year. A Milan Laser hair removal spa is expected soon.
“As the retail industry evolves, we are seeing interest in our properties from a wide range of merchants from traditional big boxes to smaller retailer to medical services to food concepts,” said Sandy Sigal, chief executive officer for NewMark Merrill Companies, in a statement.
“Burlington is a great example of a company appreciating Stratford Crossing’s location, consumer traffic, and complementary tenant mix.”
From dailyherald.com. Click here to read the full article.