>>> THE DISCOUNT MALL IN LITTLE VILLAGE MAY SOON BE RUNNING WITH JUST HALF ITS VENDORS.

FOR THE LAST TWO YEARS THE MALL HAS BEEN IN THE MIDDLE OF A BATTLE BETWEEN THE PROPERTY OWNER AND ITS VENDORS.

JOANA HERNANDEZ HAS MORE IN THIS ONGOING SAGA.

>> Reporter: IT MIGHT BE THE END OF AN ERA FOR THE DISCOUNT MALL, THAT'S BECAUSE HALF OF THE MALLS VENDORS HAVE UNTIL THE END OF THE MONTH TO PACK UP AND LEAVE.

THIS IS ONE OF THOSE VENDORS CLOSING SHOP.

>> WE DON'T HAVE ANY CHOICE.

IF WE DON'T HAVE A CHOICE WE HAVE TO LEAVE.

THEY GIVE US NOTICE AND YOU HAVE TO GO.

>> YOU NEVER WANTED TO LEAVE?

>> OF COURSE NOT.

>> AFTER MORE THAN 30 YEARS HE'S ONE OF 67 VENDORS WHO RECEIVED A LETTER EXPLAINING THEY HAVE UNTIL MARCH 26th TO SELL THEIR MERCHANDISE.

>> IS NOT GOING TO END HERE.

I WILL GO FOR FIVE MONTHS IN PAKISTAN AND THAT I WILL COME BACK HERE.

>> THE BUILDING IS OPERATED BY TWO SEPARATE COMPANIES, THE OWNER OF THE CORPORATION RECENTLY SIGNED A CONTRACT WITH NOVAK DEVELOPMENT CORPORATION.

THE NEW LEASE RUNS FOR 10 YEARS WITH THREE FIVE-YEAR OPTIONS.

FOR A POTENTIAL TOTAL OF 25 YEARS.

AS FOR THE OTHER SIDE, THE MANAGER OF PK MALL SAID THE OWNER COULDN'T COME TO AN AGREEMENT WITH NOVAK.

>> WE ARE TRYING TO DO WHAT'S RIGHT FOR THE VENDORS AS WELL AS THE MANAGEMENT.

WHEN THEY DIDN'T AGREE TO THE OWNERS OFFER, WE HAD NO CHOICE BUT TO DECIDE TO LEAVE.

>> THE MALL IS KNOWN TO OFFER BELOW-MARKET RENTALS AND SHORT-TERM AGREEMENTS WITH LITTLE TO NO CREDIT HISTORY.

THE CONTRACT NOVAK WAS OFFERING THE OWNER WAS NOT SUSTAINABLE FOR ITS VENDORS.

>> VERY HIGH, WE KNOW THAT OUR VENDORS, THEY WOULD HAVE A HARD TIME.

ESPECIALLY NOWADAYS LIVING IN A RECESSION.

>> Reporter: THERE'S NO QUESTION ABOUT WHAT IT LOOKS LIKE FOR THE OPERATOR WHO RENEWED WITH NOVAK.

>> WE WILL SEE IF HE'S ABLE TO KEEP SOME OF THEM.

>> Reporter: THIS IS ONE OF THE VENDORS HOPING TO STAY, THEY'VE BEEN OPERATING A PET STORE SINCE 1989.

>> IN FEBRUARY, ALDERMAN LOPEZ SAT DOWN WITH NOVAK'S TEAM ALONGSIDE CITY OFFICIALS TO DISCUSS PLANS FOR THE PLAZA.

>> IS ENOUGH ROOM HERE TO ACCOMMODATE EVERYONE AND THEY ACKNOWLEDGED THAT.

BUT YET THEY SAID SORRY WE ALREADY SIGNED A CONTRACT.

CONTRACTS CHANGE ALL THE TIME.

I WASN'T BORN YESTERDAY.

>> THIS NEWLY RELEASED RENDERING SHOWS WHAT THE PLAZA WILL LOOK LIKE AFTER RENOVATIONS.

NOVAK SAYS IT PLANS ON REPAIRING THE FRONT OF THE MALL WHICH INCLUDES THE ROOF, THE PLAZA PARKING LOT WITH AN UNDERGROUND STORM WATER SYSTEM AMONG OTHER IMPROVEMENTS.

>> THE DISCOUNT MALL BELONGS TO MISTER KIM.

SO THIS IS NOT THE SAME.

>> TORRES HAS BEEN A MANAGER FOR PK MALL FOR THE LAST 30 YEARS AND SAYS IT'S GOING TO BE HARD TO LEAVE SUCH A BIG CHAPTER OF HER LIFE.

>> I HOPE WE ARE ABLE TO OPEN ANOTHER DISCOUNT MALL IN THE FUTURE.

>> FOR CHICAGO TONIGHT I'M JOANA HERNANDEZ.

>> AS FOR A NAME CHANGE FOR THE MALL, A SPOKESPERSON SAID