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Bank of America Buys Evanston Plaza

The plaza was sold for $12,350,000.

Bank of America bought the troubled Evanston Plaza for $12,350,000 at a foreclosure auction Tuesday.

City Manager Wally Bobkiewicz said in an e-mail that the city will now work with Bank of America "as it weighs its development options and potential partners for future development."

In May, the Chicago-based Evanston Plaza owner, Joseph Freed & Associates LLC, surrendered the property to a court-appointed receiver as part of a $105 million foreclosure lawsuit with Bank of America Corp., after Freed used Evanston Plaza as cross-collateral to help finance the now-failed Block 37 project in downtown Chicago.

The plaza has been plagued by . A.J. Wright, one of the larger stores in the plaza, closed earlier this year, .

E-Town Resident May 09, 2011 at 05:18 AM
How about some sort of entertainment venue geared towards the youth? Like a bowling alley, roller skating rink, or something on the line of a Dave N Busters? Give the kids something to do other than walking around downtown Evanston.
Marci May 13, 2011 at 04:29 PM
I would like to see some type of kid-friendly entertainment like a bowling alley, roller skating rink, or play place. I would also love to see an Old Navy come to Evanston.
Sim Elwood March 13, 2013 at 09:32 PM
Dominick's will block another grocery store as they have right of refusal in their lease.
Sim Elwood March 13, 2013 at 09:34 PM
Dominick's won't allow a bowling alley. Read the other articles in the Patch about the Plaza.
Sim Elwood March 13, 2013 at 09:36 PM
http://evanston.patch.com/articles/evanston-plaza-s-new-owners-discuss-shopping-center-s-future#photo-8966237

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