Wausau's finance committee on Sept. 13 moved toward acquiring the former Sears building in the Wausau Center mall, at a price of $700,000.
When the sale is complete, the city will immediately initiate redevelopment activities and issue a request for proposal on the property. That process typically takes up to four weeks.
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Critics say the asking prices is steep, considering former mall owner CBL in July 2015 acquired a former Sears store at Racine's Regency Mall for $325,000. (CBL turned over the mall to its lender in July.) But city officials say acquiring the property makes sense, because the purchase gives Wausau control over the site's redevelopment. "This is a positive first step," says Council President Lisa Rasmussen. The full council will take up the matter at its Sept. 27 regular meeting.
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