On Tuesday night Greendale Village Manager Todd Michaels told board trustees that Sears plans to split the property that Leath Furniture previously occupied from Southridge Mall with the possibility of selling off the property to another buyer.
Tom Daykin of The Journal Sentinel reported Tuesday that Sears plans to sell the building. Read more here.
In a phone interview Michaels said he couldn't confirm the parcel will be sold. He said the certified survey map on tonight's Village Board agenda will be referred to the Planning Commission, which meets May 11.
The parcel is worth more than $10 million, Micahels said, and the building is worth $2 million-$3 million. The property straddles the Greendale-Greenfield border, according to the survey map in the Village Board packet.
Michaels also said people have been interested in the next-door Borders property, but there have been no firm offers.
"This is an integral piece of the Southridge puzzle," said President John Hermes at Tuesday night's board meeting.
This comes during a time of major redevelopment that is being done to the 76th street corridor.
- Construction on the first TIF district of the senior living complex is underway.
- The planning commission will review Wal-Mart's proposal on May 11, which would be built at the old U.S. Bowling Congress. Public reviews about Wal-Mart have been mixed and Board action should take place in June.
- Back in December the Village Board approved a $16 million TIF district for the $52 million redevelopment of Southridge Mall. Even though village officials have not been able to confirm but rumor has it that Macy's is going to set up shop in the old Yonkers space. Last known news about the redevelopment was that inherent legal issues have held up the process of bringing in an anchor store into the mall but that redevelopment was on track.
Right now the buildings that occupied Bally's, Borders and Leath furniture are empty and are all located on 76th Street.