Cermak Plaza Renovations
Retrieved June 28, 2010 from www.chicagobusiness.com.
Here’s an excerpt from a June 28, 2010 Crain’s Chicago Business article entitled “Rundown Berwyn Strip Mall Gets a Facelift”.
Like shopping centers across the suburbs, Berwyn’s Cermak Plaza was skewered by the recession, but the one-time home of the famous car-kebab statue called the “Spindle” is plotting a comeback.
Built in 1956 by shopping center magnate David Bermant, Cermak Plaza has survived dozens of downturns. But “it had gotten pretty shabby,” concedes Michael Flight, president of Westchester-based Concordia Realty Corp., the property’s manager.
Now amid the deepest economic trough since the Great Depression, the center is getting a $10-million face-lift that its owners see as the key to competing with newer malls for scarce tenants and reversing years of decline.
The effort already is paying off in terms of tenant interest, Mr. Flight says: “Things are finally starting to turn around.”
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