Property Lines

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Real Estate & Retail

When factories close, what's next?

January 23, 2008
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Sherman ParkA Bloomington developer is planning a $20-million revival of the former Thomson Consumer Electronics plant on the city's near east side. The 50-acre Sherman Park property has become an eyesore since the late 1990s, when Thomson moved the last of the plant's jobs to Mexico. Pinnacle Properties envisions new office, industrial and distribution uses, along with a neighborhood park. It won't be easy to pull off. Read more here. Pinnacle's experience includes the reuse of RCA's plant in Bloomington, a town that soon could have another empty manufacturing facility. General Electric plans to close its 110-acre Bloomington refrigerator plant at the end of 2009. What should be done with these properties?
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