NILES, Ill. (WBBM NEWSRADIO) -- The Niles Village Board has given approval for a preliminary agreement for the redevelopment of the Golf Mill Shopping Center.
The Village Board approved a non-binding agreement with the mall’s owner and developer, the Sterling Organization, for a $440 million dollar redevelopment that includes renovated retail space and building a 300 unit apartment building.
Mayor George Alpogianis said this is the second to last step. The last step is a redevelopment agreement. He said this has been ten years in the works.
"Last two years, there has been a massive push on everybody's end to get this done and let's bring this baby home."
The agreement includes $96 million dollars in Tax Increment Financing.
There are plans for a second phase that includes more apartments as well as
entertainment, hotel, office and retail space.
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