St. Charles mall sold for fraction of its debt

Posted June 15, 2010 at 5:23 p.m.

From Crain’s Chicago Real Estate | The Charlestowne Mall in St. Charles, which has seen the vacancy rate of its non-anchor stores soar to about 70 percent, has been purchased by a group of California investors for about a quarter of its debt. “The resurgence of the Charlestowne Mall has been at the top of [St. Charles's] economic development priority list for some time,” said St. Charles Mayor Don Dewitte. 


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