The New York-based company that owns Spring Hill Mall says it is close to reaching a deal to sell the shopping center to the village of West Dundee.
Kohan Retail Investment Group recently moved to month-to-month leases for any new tenants at the mall, which is split between West Dundee and Carpentersville. "That was one of the requirements the buyer requested," Michael Kohan, founder and CEO of Kohan Retail Investment Group, said on Wednesday. Representatives from Kohan and West Dundee were scheduled to meet Wednesday to discuss the potential sale of the mall. West Dundee is the only potential buyer Kohan's firm has been in talks with, he said.
"I would say we're close to a deal," said Kohan, adding he anticipated announcing the sale of the mall in the coming weeks.