Since its opening in 1981, Orland Park Place was a failed project. Multiple owners, bankruptcies, and foreclosures left only two tenants in the mall, anchors Montgomery Ward and Kohl’s. Over the years the Village of Orland Park had reviewed numerous proposals which attempted to make it a profitable enterprise. None proved feasible until HSA presented its ambitious plan.
Because Orland Park Place sits directly across the street from Orland Square Mall, a plan had to be developed that would provide an alternative to the type of shopping in the much larger, regional mall. Due to the complicated nature of redesigning the structure, the project was burdened with extraordinary cost. While the Village had a long standing position opposing municipal assistance, HSA was able to craft a proposal that benefited the Village through additional sales tax revenue and increased property taxes, along with a finished product that is now a source of pride. Through the creation of a TIF, Orland Park was able to bridge the cost gap and allow HSA to finance the project. HSA came up with an ambitious plan to “de-mall” the center by opening up the main portion of the property and reconfiguring the space to make it marketable to some of the best retailers in the country. HSA worked very closely with the Village, the school boards, and several taxing bodies to make this a viable project. In the end, this proposal made economic sense for everyone involved.
Long an eyesore, Orland Park Place stands as a testament to the hard efforts of both public and private sectors and will long serve the needs of the surrounding communities. The success of this project continues to pay off as HSA took control of the former Montgomery Ward space during a bankruptcy sale in 2001, redeveloped the building and leased the space to Galyan’s Trading Company (which would become Dick’s Sporting Goods) and Office Depot. They joined other renowned national retailers such as Nordstrom Rack; Barnes & Noble; Old Navy; Bed, Bath & Beyond; DSW Shoe Warehouse; Steinmart; and Cost Plus World Market. This comprehensive redevelopment will clearly better serve today’s consumer shopping habits.
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