Peru Mall

Rubloff Company developed Peru Mall, opening in 1974 in Peru, Illinois, along the Illinois River in the state’s north-central region. The property’s original anchor lineup included Bergner’s, JCPenney and Sears, positioning it as the region’s primary enclosed shopping destination for decades.

At roughly 465,000 sqft, the property has since lost all three of those original anchors to vacancy, and currently carries only two operating anchors, AMC Theatres and Marshalls, against those three vacant anchor spaces. GK Development, which also owns and manages Peru Mall’s sister property Lakeview Square Mall in Battle Creek, Michigan, currently owns and manages the property.

Buckle and Famous Footwear carry fashion among the roughly 15 remaining stores, with Bath & Body Works for beauty and Jo-Ann for crafts and home goods; Kay Jewelers and Zales round out the jewelry tenant tier.

That two-anchor-remaining status against an original three-department-store lineup, held under the same regional operator, GK Development, that separately manages the similarly anchor-depleted Lakeview Square Mall, reflects a specific institutional pattern: a single Midwest-focused mall operator managing a small portfolio of aging, anchor-thin properties across multiple states rather than any single property representing an isolated case.