In latest mall repurposing, Hi-Five Sports Zone leases space in Northbrook Court

Brookfield is planning a $250 million overhaul of the mall that will include 300 apartments

Chicago /
Dec.December 28, 2018 09:00 AM

From left: Danny, Marv and Ryan Tuchman in the Hi-Five Sports Zone in Northbrook Court

A youth recreational sports facility is leasing space in the Brookfield Property Partners-owned Northbrook Court shopping center, the latest example of a mall owner turning to a non-retail use to fill vacant space. Brookfield is planning a $250 million overhaul of Northbrook Court.

Hi-Five Sports Zone is taking 14,000 square feet at mall at 1515 Lake Cook Road, taking over the former Sports Authority space after the big box store closed in 2016.

Hi-Five Sports Zone

A Hi-Five spokesperson said the nearly 30-year-old sports program converted the former retail store into recreational space for basketball, football, baseball, floor hockey and soccer. The venue features a basketball court, turf field, event space and a lounge area for parents.

As part of the renovations, Brookfield and developer Ryan Companies want to tear down the Macy’s store and replace it with 300 apartments, a grocery store, a food hall, new retail, a plaza for special events and more.

The owner of the north suburban mall has asked the village to provide $21.5 million in tax increment financing for the project, and to rebate $5.5 million in sales taxes, according to the Northbrook Star.

Changes at Northbrook Court have been in the works since January 2017, when then-owner GGP talked about renovating the mall to include fewer anchors and more non-traditional uses like the Hi-Five facility. Macy’s sold its space at the mall for $25 million in January 2018 to GGP, which was bought out by Brookfield in July for $15 billion.

The Northbrook Court proposal follows a blueprint Brookfield laid out this year to repurpose poorly performing malls by adding housing, office space or hotels.

Battered by diminishing revenue and rising vacancies — particularly after the demise of large tenants like Sports Authority, Toys “R” Us, Carson’s and potentially Sears — many mall owners nationwide are transforming their assets, turning the hulking properties into offices, housing, co-working spaces and hotels.


Related Articles

arrow_forward_ios
Metro Edge's Craig Huffman and a rendering of the data center (Metro Edge)
Data center gets ground lease in Illinois Medical District
Data center gets ground lease in Illinois Medical District
Renderings of 4731 S. Cottage Grove in Bronzeville (Krueck Sexton Partners)
Sale of city-owned Bronzeville land for upscale commercial project
Sale of city-owned Bronzeville land for upscale commercial project
Brixmor's James M. Taylor Jr. and Westridge Court (Brixmore, Getty)
Brixmor request to tax Naperville shoppers advances
Brixmor request to tax Naperville shoppers advances
Eversheds Sutherland' Marc Benjamin with  The Franklin (Eversheds Sutherland, The Franklin)
Eversheds Sutherland locks in Central Loop lease
Eversheds Sutherland locks in Central Loop lease
1449 Jericho Circle and Aurora Housing Authority chairman Joseph Grisson III (Aurora Housing Authority, Facebook/Joe Grisson for WA SD129 School Board, Getty)
Aurora Housing Authority, Northern Lights OK’d for senior housing plan
Aurora Housing Authority, Northern Lights OK’d for senior housing plan
Fortem Voluntas Partners' Joy Jordan and 415 N. Sangamon (Google Maps, LinkedIn, Getty)
Emerging developer files for Fulton Market high rise
Emerging developer files for Fulton Market high rise
151 N. Michigan in Chicago (Lamar Johnson Collaborative, Getty)
BJB Partners gets OK for demolition near Millennium Park
BJB Partners gets OK for demolition near Millennium Park
RPT Realty's Brian Harper and LBX Investment's Robert Levy with 940 E Rand Rd, Mt Prospect, IL (RPT Realty, LBX Investment, Google Maps)
Harper’s RPT scores win on Chicago-area retail sale
Harper’s RPT scores win on Chicago-area retail sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...