CANTON, ILLINOIS — Jim Murphy, President of CFC Properties which is a Cook Group property management company specializing in developing architecturally significant buildings, has announced the company has purchased Fulton Square Mall in Canton.
The purchase agreement was completed on Wednesday, May 27 and announced on Thursday. Murphy was in town Thursday afternoon to meet with Fulton Square tenants and to get an idea of the condition of the properties. Immediate plans are to take care of what Murphy called “deferred maintenance” on the area, including work on the roof and parking lot, as well as painting the buildings. “From there, we will find out the best direction to go after visiting with our tenants,” Murphy said.
Crews from the company were expected to visit the area next week. Murphy said he hoped work would begin within a month, depending on the availability of the contractors.
According to Canton Mayor Kevin Meade, JCPenney has signed a five-year lease with the new owners. Businesses currently at Fulton Square include JCPenney, Kirlin’s Hallmark, Taco Bell, Bard Optical, Goodwill Industries, Advance America, Curves, U.S. Cellular, and H&R Block. Under Murphy’s direction, Cook Industries recently completed the renovation of the historic Randolph building in downtown Canton.
Bill Cook, owner of Cook Group and a man who grew up in Canton, said at an open house event held recently at the Randolph building that he wants to build a hotel at the corner of Main and Locust streets. He also alluded to his desire for traffic to once again to be able to go around the square. Cook Canton, a medical device factory, will be constructed on the former International Harvester site. Bids are to be awarded for that project next week, with construction to begin immediately.