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An enclosed [shopping mall] built in 1971 in the developing Chicago suburb of Waukegan. Anchored by Carson Pirie Scott & Co., Wieboldt's, and JC Penney (known at the time as simply Penney's), the mall featured over 100 shops, as well as several shops and [restaurants] outside the mall including a multiplex, Service [Merchandise], and a strip-mall.

In 1986 Wieboldt's filed for bankruptcy and closed its Lakehurst location, just in time for the infamous flood of 1986 which crippled [the village] of Gurnee some 5 minutes away. The floods resulted in the closure of Gurnee's [elementary] schools, which for about 6 weeks would be held inside the former Wieboldt's anchor, which became unofficially known as "Wieboldt U". After the schools were repaired and Wieboldt U students left, the store was remodeled and reopened as a Montgomery Ward on the top floor and Dunham's Sports on the bottom floor.

1991 sparked the decline of Lakehurst when [the massive] Gurnee Mills outlet mall was built 5 minutes away. Almost instantly Lakehurst shoppers and tenants fled Lakehurst for the new mega mall. 1997 would be a vicious blow to Lakehurst's head when JCPenney closed its Lakehurst location due to it being considered "underperforming", and a larger more updated store being built 30 minutes away in Vernon Hills. Montgomery Ward also closed its Lakehurst location due to bankruptcy troubles.

The rapidly dying mall was shuttered in 2001, leaving its Carson Pirie Scott anchor as the only operating store at Lakehurst. Carson's survived through 2003 and finally turned out the lights in [early] 2004, with demolition following shortly afterward. The land is being redeveloped to Fountain Square of Waukegan, a mixed retail and office plaza.

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