West Frankfort to purchase outlet mall for $1.8 million - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

West Frankfort to purchase outlet mall for $1.8 million

WEST FRANKFORT, IL (KFVS) -

The City of West Frankfort, Illinois is moving forward on the purchase of a $1.8 million property along I-57 in the city, after ending the 60-day period of due diligence. 

West Frankfort Mayor Tom Jordan said the city council has been discussing the purchase of the Factory Stores of America outlet mall that sits on 20 acres including 5 acres of undeveloped land near Highway 149 and I57. 

“I think that’s one of the prime spots in West Frankfort to locate,” Jordan said. 

The 90,000 square feet of mall property currently has several tenants including Vanity Fair Outlet Stores that occupies most of the space, Advanced Hearing Center, and Bon Worth. 

Jordan said the hopes are attract business into the city and it’s not the first time the council has approved a similar project. 

“We’ve had great success with our business incubator on ken gray boulevard,” Jordan said. 

Jordan said the city will likely offer rental space to business interested in moving to the space in an effort to promote business coming to West Frankfort. 

“To spur some growth and also I think the future of our community,” Jordan said. 

The city has spent nearly two months inspecting the building in a 60 day process called due diligence.

The city was able to re-negotiate a price at the end of that process or make the purchase, depending on necessary repairs. 

Mayor Jordan said this will likely be a 10 year plan. The city plans to borrow a large portion of the cost from a local bank. Jordan said the rest of the cost will come from revenue generated from leasers, and over time the city may sell off parcels of the property. 

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