Merle Hay Mall owners seek county loan to buy abandoned Younkers and Sears stores
BPC Staff Oct 19, 2018 | 8:36 pm
<1 min read time
113 wordsAll Latest News, Real Estate and DevelopmentThe Polk County Board of Supervisors will vote Tuesday on a $2.5 million loan to the Chicago-based owners of Merle Hay Mall to help with the purchase of the shuttered Younkers and Sears stores at the mall. The parent companies of both operations have declared bankruptcy in recent months. The loan would be for 15 years at 1 percent interest, according to a report to the board. Meanwhile, mall owners also have listed three outlot properties for sale. The locations of Starbucks, IHOP and Applebee’s are listed for a total of $4.6 million. The Younkers property has an assessed value of $5.5 million, and the Sears property is valued at $7.1 million.