1990s
On August 8, 1991, Gurnee Mills opened seven miles (11 km) away from Lakehurst. The newer, larger Gurnee Mills proved a much larger draw than expected, devastating Lakehurst's retail base.
The mall had 100 tenants at the beginning of the 1990's, but by 1997, about fifty businesses remained. In early 1998, both Montgomery Ward and JCPenney pulled out of Lakehurst, leaving Carson Pirie Scott as the sole anchor. The Jacobs Group sold Lakehurst in the summer of 1998; the price was $30 million, a little less than that of the sale price in 1982.
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