ELYRIA, Ohio — The future of Midway Mall is changing once again.
Industrial Realty Group is set to purchase the mall in Elyria from the Lorain County Port Authority for $15.8 million, according to Elyria Mayor Kevin Brubaker.
Brubaker said the Lorain County Port Authority's board of directors voted unanimously on Wednesday to enter into a purchase agreement with IRG.
Given IRG’s track record, the mayor says he’s optimistic this deal will last. It could take up to four months for the deal to close.
IRG plans to use the property for mixed-use retail and commercial development.
The port authority bought the property in 2023.
RELATED: Lorain County Port Authority agrees to buy, redevelop declining Midway Mall
Last year, Industrial Commercial Properties, LLC (ICP), terminated a purchase agreement with the county, and the sale fell through.
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RELATED: Sale of Midway Mall falls through; potential buyer terminates purchase agreement
Despite the setback for the mall, Lorain County leaders remain optimistic about its future.
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RELATED: Port Authority optimistic about Midway Mall after developer backs out
