In 1998, Atlanta-based Lend Lease Real Estate Investments Inc. (Lendlease Group) acquired Deerbrook Mall on behalf of one of its public pension fund clients from Valenti Builders, a Northfield, Illinois based company. The new owners began a major interior and exterior renovation to update the aging mall which had been plagued by high vacancy rates. Subsequent major renovations between 2015 and 2017 included demolition of the enclosed portion of the mall in favor of major standalone anchor tenants.
