A rendering of the water feature at the Golf Mill Shopping Center. The village of Niles and Sterling Organization, the owner of Golf Mill hosted an Open House to discuss the upcoming renovations at the mall on June 10, 2024.
“I think this is a highly finance-able project,” he said. He noted that Sterling owns other sizable shopping centers around the nation and has eight properties in the Chicago region. A rendering of the water feature at the Golf Mill Shopping Center. The village of Niles and Sterling Organization, the owner of Golf Mill hosted an Open House of the upcoming renovations at the mall on June 10, 2024.
Alpogianis said that the village’s investment in the project is risk-free to taxpayers because it is done with performance-based tax increment financing. Once the first phase of renovations is completed and the Cook County tax assessor revalues the property at a higher value, the plan calls for the village to pay Sterling tax increment financing bonds on the increase in value and reimburse Sterling up to $96 million, according to documents.
Source: Entertainment Trends (entertainmenttrends.net)
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