While a Crane's Chicago Business story lauds the success of the Geneva Commons shopping center, its focus is the "polarizing market" and the challenges facing nearby Charlestowne Mall in St. Charles.
The article also includes an interesting chart showing the suburbs' best-performing and worst-performing malls. Top performers were Oakbrook Center, Northbrook Court, Water Tower Place, Shops at Northbridge, Woodfield Mall, and 900 North Michigan shops. Bottom performers were North Riverside Park Mall, Stratford Square Mall, Hawthorne Shopping Mall, Evergreen Plaza and Charlestowne Mall.
"Some of Charlestowne's woes are of its own making," Crain's reports. "Until last year, when it was sold out of receivership, the mall was owned for five years by creditors who did nothing to bring in fresh retailers."
The articles elaborates on the ongoing troubles the mall faces and what it's currently doing to fight back against an 80 percent vacancy rate.
In February, St. Charles Patch reported on how plans inside the mall to add a ice skating rink and seafood buffet remained in preliminary stages. A mall spokesman told Patch that building permits "still have not been issued."
Crain's reports that the city officials say the permits had yet to be applied for by mall management.
Crains's says one of the reasons Charlestowne is struggling is competition from the Geneva Commons shopping center—a lament that's been echoed more than a few time by Geneva downtown business owners and others who support a vibrant downtown.
"Business is booming as well at Geneva Commons, an upscale lifestyle center just six miles west on Randall Road, as shoppers stream into top-tier tenants like Anthropologie, Pottery Barn and Sephora," the article says.
Read more: Crain's Chicago Business