LITH Shopping Center Sells For $5.05 Million

LAKE IN THE HILLS, IL – A shopping center that formerly housed a Dominick's grocery store in Lake in the Hills has sold for $5.05 million. The 99,451-square-foot Centre at Lake in the Hills, located at the high-traffic corner of Algonquin and Randall roads, is now in escrow. The new owners of the shopping center are expected to be announced later this week, village officials said.

Village officials have been working for years to try and fill the space. At one point, Aldi's showed interest in moving into the former Dominick's, which has been vacant since closing in 2013. But those plans never moved forward. Big R Department Store had also been in talks with village officials about opening there but ended up backing out.

Now, village officials are happy to see the property sold and said a new business at the property will increase the village's tax base, according to the Northwest Herald.

“Whoever is buying this isn’t buying it just to sit on it,” Village Board President Russ Ruzanski told the Northwest Herald. "They might have a potential suitor who wants to go in there already, and it would just be a matter of working on the details. The village is going to benefit one way or another.”

An online auction for the shopping center, run by Ten-X Commercial, opened Monday and closed Wednesday when the center sold for $5.05 million.

For years, Algonquin and Lake in the Hills readers have shared their thoughts on what they would like to see move into the former Dominick's building. Tell us in the comments section below what business or what kind of business you would like to see there.

• Big R Department Store Ditches Plans to Move Into Former Dominick's
• Lake In The Hills Shopping Center Going Up For Auction
• Aldi Store With Meat Counter, Larger Liquor Section Coming To LITH
• What Should Replace Dominick's in Lake in the Hills?

Photo via GoogleMaps