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Feil Looks to Reposition 1M-SF Park Mall

NORTH RIVERSIDE, IL-Berns & Associates LLC will analyze the tenant mix, as well as potential upgrades at the 1.1-million-sf North Riverside Park Mall on Cermak Road west of Harlem Avenue, which New York City-based Feil Organization acquired from Urban Retail Properties for $108 million in January 2004.

By Mark Ruda | Updated on August 16, 2005

(For more retail coverage, click GlobeSt.com/RETAIL.)

NORTH RIVERSIDE, IL-More than a year after being sold for $108 million, then undergoing a major renovation, the 1.1-million-sf North Riverside Park Mall here is getting more scrutiny. New York City-based Feil Organization has hired Berns & Associates LLC to analyze the tenant mix at the shopping center on Cermak Road west of Harlem Avenue.

Anchored by J.C. Penney, Carson Pirie Scott, Sears and Steve & Barry’s, the center also includes 140 retailers including Old Navy, the Gap, Baby Gap, Gap Kids, Victoria’s Secret and an 11-unit food court. Although occupancy stands at 95%, the tenant roster could use some tweaking, says Tom Castagnoli, general manager at the property since 1997. “There’s probably 7% to 8% of the mix that isn’t on long-term leases,” Castagnoli tells GlobeSt.com, adding the center may have two many specialty stores in the cell phone, jewelry and gym shoe arenas.

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