Chicago-based real-estate developer Park Development LLC has completed its purchase of the Logansport Mall. The sale was completed last week, but financial details were not released and the new owner did not specify plans for the property.
“We can’t wait to break ground on this project,” a spokesperson for Park Development said. “We can’t thank the current and prior city administrations enough for everything they’ve done to help finalize this deal. This project has the potential to revitalize the City of Logansport and drastically improve its economic vitality.”
The 1968-built mall has been mostly vacant for a decade, with the exception of Dunham Sports, after years as a bustling shopping center anchored by Sears and JCPenney.
“Frankly, the mall has just been a big eyesore that people are tired of looking at,” said Bill Cuppy, Executive Director of the Logansport Cass County Chamber of Commerce. “This will certainly provide a nice kick start for the Logansport economy – one that we hope might lead to further development. A lot of work and due diligence has gone into this project, and at the local level we will continue to work with the new owner to bring this development to completion. We can’t wait to watch it take shape.”
In October, Logansport Mayor Dave Kitchell told Inside INdiana Business the new owner planned to demolish a portion of the mall that included a J.C. Penney store and build a 100-room hotel. It is unclear if those plans are still in place.