CHESAPEAKE, Va. (WVEC) -- There's more bad news for Chesapeake Square Mall: the shopping center's value has dropped by almost $20 million.
That's according to our partners at The Virginian-Pilot.
As of February 2017, the mall was valued at $42 million, down from $61 million in 2015. The mall's value has been on the decline since the mid-2000s, when it had an estimated worth of $100 million.
In 2004, then-owner Simon Property Group took out a $73 million loan on the mall. But last year, it fell into foreclosure, and was bought by another company.
The mall has struggled, since department stores Sears and Macy's left.
