The Illinois Star Centre Mall in Marion will be sold at auction.
Sealed bids are being accepted until next week.
Tranzon Asset Advisers will conduct the auction. Spokesman Carl Carter says the owners have been working the past five years to make changes so the property would be attractive to bidders.
"They reached a point where they said, 'you know what, we're really not in the business primarily of big, multi–tenant retail properties like this.' We think the property is going to do better in the hands of somebody who is."
Carter says some of the key changes made by the owners include reworking tenant agreements, attracting new tenants, and acquiring direct ownership of the 28–acre parking lot.
Carter says it's a beautiful property that should be attractive to potential buyers.
"It's the go to place for brick and mortar retail in southern Illinois. Not everybody is going to buy everything on Amazon. So, we think it has a bright future with the right owner."
The deadline for sealed bids on the property is 3 p.m. on November 16th.
Those wanting more information can visit tranzon.com.