Best Buy Old Orchard officially closed its doors on Sunday. That leaves a 36,078-square-foot business empty for The Shops at Orchard Place, owners of the now vacant building at the strip mall.
“Property taxes are levied on the shopping center are as a whole,” said Skokie’s director of finance Tom Thompson. “Approximately $1.75 million in sales tax [was generated from the shopping center as a whole] in 2012.”
Best Buy said that it would be closing 50 of its stores in March. Yet the Old Orchard closing was announced last month. The company’s stock price has also been in a steady decline, from about $23 a share in April to its current price of about $16 a share.
What do you think?
All that being said, we wanted to know: What do you think should replace the now vacant storefront?
Post a comment below and share your thoughts!