Elk Grove Promenade Developer Being Challenged on Bankruptcy

The developer of the Elk Grove Promenade, Chicago-based General Growth Properties, is being challenged on the inclusion of several profitable malls in its recent chapter 11 bankruptcy filing.

The April filing of General Growth was the largest real estate failure in U.S. bankruptcy history. General Growth is the developer of the Elk Grove Promenade, the outdoor mall on the city’s south side whose construction was halted last summer just prior to the collapse of credit markets