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03 Mar 2020

Big Changes Coming to Little Village Plaza, New Owner Says

Carlos Ballesteros and David Roeder, Chicago Sun Times
The new owner of Little Village Plaza wants to bring in national tenants like Target or grocery stores that cater to Latinos. Brian Rich/Sun-Times

The new owner of Little Village Plaza says he wants to bring in more national retailers to the six-acre South Lawndale shopping center and potentially close the Discount Mall, a well-known mini mall with more than 100 vendors that’s been in the neighborhood for 29 years.

“We build a lot, and we own some retail space. We thought it might be time to add value to the mall there. I don’t know that it’s the best use of the property,” said John Novak, president of Novak Construction, a general contractor based in Avondale.

Novak finalized its purchase of the plaza at 3045-3117 W. 26th St. for $17.5 million in early February. Novak also took over a $9.6 million mortgage on the property, according to a sales agreement reviewed by the Chicago Sun-Times.

The seasoned developer said he doesn’t want to “[change] the demographics” of the plaza’s customers or come in and “knock it all down” anytime soon, but he does want to bring in “more recognized national tenants” like Target or grocery stores that cater to Latinos.

Read more at Chicago Sun Times

                                                                                                                                           

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