Louis Joliet Mall For Sale: Online Auction Revealed

JOLIET, IL — If you've been contemplating the idea of purchasing the Louis Joliet Mall, now is your golden opportunity. On Tuesday morning, a real estate website announced that the Louis Mall is for sale. It will be sold this month in an online auction, and the starting bid needs to be at least $5 million.

According to Tuesday's posting, the Louis Joliet Mall boasts "healthy occupancy cost and strong inline occupancy." The occupancy rate for the mall is listed at 92.2 percent.

The bidding for the online auction starts at 11 a.m. on May 15.

The property includes more than 125 acres and about 940,000 square feet of leasable space. The Joliet mall off Plainfield Road and near I-55 features two existing anchor stores, JC Penney and Macy's, plus two dormant anchor properties, Carsons and Sears, that have sat empty for the past few years.

The mall was built back in 1978 and underwent an expansion in 2000, according to the website.

During his Feb. 15 annual state of the city speech, now-former Joliet Mayor Bob O'Dekirk listed the evolution of Louis Joliet Mall as one of the nine milestones of his two terms as mayor.

Five or six years ago, O'Dekirk said, there was a feeling the Louis Mall was probably on its way out and in danger of closing. Now, the overwhelming majority of stores in the mall are filled, the empty Sears property was just bought by a suburban Chicago luxury auto dealership and redevelopment around the perimeter of the mall remains strong.

To read the full real estate listing for the Louis Joliet Mall, visit the website here.

Related Patch coverage:

No More Twerking Forever: Joliet Loses Cajun Boil & Bar

Panera Bread Bids Goodbye To Louis Mall Customers