AURORA –Saks Fifth Avenue Off 5th will anchor a 50-store expansion of Chicago Premium Outlets mall in Aurora.
Aurora Mayor Tom Weisner and executives of Simon Property Group, which owns the mall, recently broke ground on a $110 million, 290,000-square-foot expansion of the mall. When finished next spring, the mall will have 170 stores, said Danielle De Vita, senior vice president of development and acquisitions for Premium Outlets, the outlet division of Simon Property Group.
Batavia School Board members in April unanimously voted to rebate $3.2 million of future property taxes to the Chicago Premium Outlets mall in Aurora to help pay for the mall’s expansion. The expansion will be built on 45 acres on a vacant industrial site just east of the current Chicago Premium Outlets at Farnsworth Avenue and Bilter Road.
Once the partial rebate reaches a total of $3.2 million or goes on for 10 years, whichever occurs first, the Batavia School District is expected to receive an additional $923,000 a year in property taxes based on current levels, Kris Monn, the Batavia School District 101 assistant superintendent for finance, had told school board members.
In addition to the expansion, several new stores will be added to the existing center over the next few months, De Vita said, including Asics Outlet, Bebe, Disney Store, Hartmann Luggage, Loft Outlet and Tumi. She said the expansion project will provide considerable positive economic impact to the area, including approximately 300 construction jobs, along with an estimated 500 full- and part-time workers being employed by Chicago Premium Outlets’ new stores.
The expansion is set to be completed by late spring 2015, De Vita said. Fire pits, art installations, a pond, and the addition of approximately 1,900 parking spaces will be part of the expansion, she said.
Coinciding with the 10th anniversary of Chicago Premium Outlets, De Vita said the mall will be completely renovated with newly paved sidewalks, upgraded seating and lounge areas, improved lighting and updates to the center's food offerings.