There was a time when the University Village Shopping Center was THE place to go on Evansville's west side. That area was full of popular businesses, including a Walmart and a Shoe Carnival to name just a few. Over the last several years, that area has been in a steady decline, and it is now on the market.

Summit Real Estate Services
Summit Real Estate Services

It all started when Walmart started to expand and build 'mega' Walmarts (that's what I call them) - it's probably hard for some people to believe that there was a time when Walmarts did NOT include a grocery store. Anyhoo, building the 'new' Walmart on S. Red Bank Road signaled the gradual decline of the University Village Shopping Center. The old Walmart building was torn down, leaving a big ol' eyesore, and then one by one, more businesses either moved or closed. A handful of businesses are still open in the shopping center, but it is most definitely an underutilized area.

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Who Wants It?

In August of 2021, Summit Real Estate Services listed the University Village Shopping Center, giving someone, or a group of someones, the opportunity to swoop in and reinvigorate this once-thriving area of Evansville. I haven't heard about any buyers, so I did a little digging, and as far as I can tell, the property is still for sale.

Summit Real Estate Services
Summit Real Estate Services

University Village Shopping Center Listing Details

The area includes 31.24 acres, which includes the old Walmart space, and everything to the west of it, including the Dollar Tree store. The map below (everything in the highlighted area) shows everything included with the listing. The asking price is a whopping $7.8 million. I say 'whopping' but I have no idea if that's a good price or not. Do you know anything about real estate - does $249,680 per acre seem like a good deal to you?

[h/t: Facebook/Evansville 411 News]

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