CHICAGO (WLS) -- There is relief Tuesday for vendors who were threatened with eviction from the Little Village Discount Mall.
A new lease has been signed.
After months of worrying, vendors who were once threatened with eviction will remain at the Little Village Discount Mall after all.
Novak Development released a rendering of an overview of improvements planned for the Little Village mall.
The owner announced it has signed a new lease with one of the mall's operators, as the building undergoes a long overdue renovation.
SEE MORE: Little Village Discount Mall vendors worry about its future as developer plans improvements
Improvements will include new facades, a new roof and an upgrade to the parking lot and landscaping.
The 25th ward alderman said closing the mall would've meant losing 500 jobs and 115 small businesses in Little Village.
It's been in the community for over three decades.
"It is positive. I think there's a lot of optimism among the discount mall vendors, some of them who have already received eviction notices. So I'm glad, and I think the leadership of the discount mall vendors, as well as the community support, I think, has changed hearts, especially, you can say, on Novak side," Alderman Byron Sigcho-Lopez said.
City officials plan to meet with the mall's owner on Thursday to discuss more long-term plans and what the future holds for the mall.