The Lincolnwood Town Center mall, an economic beacon in Lincolnwood for some 35 years, has been sold and village officials are looking to partner with the new owners to resuscitate the shopping center and “reimagine” its future.

In a news release posted on the village website, officials announced being notified Dec. 19 that the mall, located at Touhy Avenue and McCormick Boulevard, was sold to a local development group that is affiliated with Prairie Ridge Development and Xroads Real Estate Advisors.

“Michael Nortman, a principal of Xroads Real Estate Advisors, and Brian Pawlik, his partner at Prairie Ridge Development, have extensive experience in the development and redevelopment of retail, mixed-use, and hospitality projects throughout the Chicagoland area,” the release states.

A plan to redevelop the mall, which has seen a sharp decrease in retailers over the past few years, is expected to be in the works “over the next several months” as Xroads Real Estate Advisors steps in to manage the property, the release explains. The mall currently operates daily with more than three dozen stores and service providers, along with several eateries.

Xroads is a Northbrook-based national property, asset management and advisory firm.

“We’re excited about the opportunity to work collaboratively with the Village of Lincolnwood and community stakeholders to re-imagine what this site can become,” Michael Nortman stated in the release.

The mall has fallen on hard times since the COVID-19 pandemic when it went into foreclosure. While retailers like Kohl’s still have stores there, vacancies have increased in recent years and several potential buyers have walked away from deals. One of the most recent ones before this latest announcement left the table in 2025 after considering developing the site for a year-and-a-half, Lincolnwood mayor Jesal Patel said in his September “State of the Village” address.

There have been several ideas for what redevelopment of the mall would look like. The mayor expects that plans will include a mix of residential and retail – heavier on the residential.

In that September address, Patel told community stakeholders that the village’s primary goal is to develop the property and bring in stable tax revenue. At the time he made that speech, there were two anchor retailers at the site. Now, only one, Kohl’s, remains.

In August, the Lincolnwood Village Board directed village staff to look into the “possible exercise of eminent domain” of the mall property. However, exactly what that meant was never made clear.

“Eminent domain powers in Illinois are very broad and complex, and they can be used in a variety of ways and we’re exploring those ways,” Patel previously told Pioneer Press. “I can’t explain all of the detail, and I wouldn’t dare try.”

In the release, Nortman touted the importance of the mall, stating that, “it has the potential to evolve into a destination that better reflects today’s needs while creating longterm value for residents, businesses, and the Village as a whole.”

Those eyeing the 31-acre property also note its complement to the North Shore area. It is said that the residential density, daytime population and the current presence of national retailers in the mall’s vicinity add compelling appeal.

“Redevelopment of the Lincolnwood Town Center mall property has been a focus of the Village Board and Staff for several years,” Patel stated in the release. “We are excited for this next step of redevelopment, and we stand ready to offer assistance to ensure for a successful project.”

Efforts to create a pathway for the redevelopment of Lincolnwood Town Center started in 2021, according to the release. With this new sale, village representatives plan to work with Nortman and Pawlik, and their team, to assess the site and determine best uses for it.

“Village stakeholders have been helping reimagine this part of Lincolnwood for some time and we are all truly excited to embark on the next journey of the Lincolnwood Town Center site with Mike Nortman and his team. It is important for the community to know any redevelopment of the site will go through a public process,” Village Manager Anne Marie Gaura stated in the release.

Freelance reporter Jesse Wright contributed.

https://www.chicagotribune.com/2026/01/15/lincolnwood-town-center-mall-in-lincolnwood-sold/