The moribund Marquette Mall in Michigan City was sold to an owner who's looking to redevelop it into a town center.
Moshe Shemian, of southern California, is now full owner of the enclosed mall and seven-story office tower that he and a group of partners bought 19 years ago. The partnership had looked at redeveloping the mall, which opened in 1967 as one of the first air-conditioned malls in the state, but lost the anchors Sears, Carsons and JCPenney over the past decade. The interior of the mall shuttered in 2017.
Shemian, who hails from the Los Angeles area, bought out his partners and is now looking to "proceed forward beginning a new dream for Michigan City," according to a news release. He's looking to develop a new town center "that will bring jobs and energy back to Michigan City."
"To say that I am excited for this Marquette Mall and Office Tower sale to happen and for Moshe Shemian’s dream to become a reality is a huge understatement. The sale is not only a major step forward to the property but for Michigan City and its neighboring areas as well" said property manager Michelle Emrick, who's been employed there 43 years. "There is now hope for the Marquette Mall property to thrive once again. The community has asked over and over again, 'What is going to happen to Marquette Mall?' We can now answer their questions."
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Shemian has talked to Economic Development Corp. Michigan City about a redevelopment project that would include apartments, townhomes, retail, restaurants and possibly entertainment, Executive Director Clarence Hulse said.
The EDCMC released a vision plan a few years ago to imagine the redevelopment of the mall in hopes of spurring investment. Now Shemian is stepping up, he said.
"It's a big deal," Hulse said. "It's been dead and dying the last 20 years. This is putting in something more contemporary and more urban on the south side. It's definitely a plus for growth."
Shemian owns 26 acres of land around the Marquette Mall, including the 60,000-square-foot office tower, an 80,000-square-foot former Carson Pirie Scott department store and a two-story 110,000-square-foot former J.C. Penney department store.
"They're doing a full review of the whole complex," Hulse said. "Some parts of it likely will be demolished. They'll likely keep the office tower. That's valuable. Parts of it you could go back and renovate the interiors. It will need to be a more modern offering. Look at all the malls that have closed in Chicago, Detroit and Atlanta."
They've discussed options like rock climbing and go-karts.
"We need to think creatively and outside the box to make it an attraction for the city and the region," he said. "We're happy we've got investors looking at both the north side and the south side. Michigan City is open for investment."
A look back at Northwest Indiana businesses that closed in 2023
A look back at Region businesses that closed in 2023
Beer Geeks, one of the Region's first, most beloved and most influential craft beer bars, closed after more than a decade and is being reimagined as a new concept.
The landmark 88-year-old castle-shaped White Castle in Whiting is coming down to be replaced with a newer, larger, more modern White Castle restaurant.
A longtime staple in downtown Crown Point poured its last drink.
The longtime Westforth Sports gun shop is closing.
The Silver Line Building Products plant at 16801 Exchange Ave. will be shuttered permanently.
Brewfest in Highland will close in what's been called "an end of an era."
David's Bridal filed for bankruptcy and could close all stores if no buyer emerges to save it.
The 88-year-old Whiting White Castle will be remembered with displays at museums in two different states.
For years, the "millionaire's club" met every morning in the corner booth of the historic 88-year-old White Castle at Indianapolis Boulevard and 119th Street in downtown Whiting. The landmark restaurant served its final slider Tuesday.
One of Northwest Indiana's most popular and enduring hobby shops is looking for a buyer after the longtime owner died.
J&L This N That Consignment Shop, a popular thrift store, closed in downtown Whiting after a run of several years.
A Calumet Region institution, Calumet Fisheries on the far South Side of Chicago, is temporarily closed after failing a city health inspection.
Just days after reopening after city health inspectors shut it down, Calumet Fisheries suffered a major fire.
Pepe's Mexican Restaurant is no mas in Valparaiso.
Beer Geeks in Highland rebranded as B-Side Bar & Lounge and then closed within a few months.
Troubled retailer Bed Bath and Beyond will permanently close its Valparaiso location as it shutters more stores nationwide as it looks to restructure and shrink its footprint to save the struggling business.
Peoples Bank has shuttered its branch in downtown Hammond.
Viking Artisan Ales will soon pour its last craft beer at its Merrillville taproom.
Old Chicago Pizza & Taproom is closing after 15 years at one of Northwest Indiana's most prominent highway interchanges.
The Chicago Auto Show, the nation's largest auto show, returns to McCormick Place Saturday, running through Feb. 19.