Harlem Irving Looks to Add 130,000 SF to Mall

NORRIDGE, IL-Harlem Irving Cos., a mall developer, has purchased a four-acre site adjacent to its 700,000-sf Harlem Irving Plaza for $12.5 million. The company plans on adding up to 130,000 sf of retail to the site, already dominated by a 51-year-old enclosed mall and anchors such as Target, Kohl’s, Carson Pirie Scott and Best Buy.

A spokeswoman for the company tells GlobeSt.com that the plans are still new, and it’s not clear what kind of retail will be added. She says more than 15 retailers are in negotiation for the property. “Our options are open,” the spokeswoman says. “We are looking for the perfect tenants, whether they be big box stores, department stores or many small specialty retailers, and maybe an eatery.”

She says since the retailers aren’t chosen, it’s not clear how much the addition would cost, though she says the average retail sales of stores on the property are at $460 per sf. The collection of 140 stores, known as the Hip in reference to the property’s acronym, are currently 98% leased, and have been at least 95% leased for 20 years, the spokeswoman says.