STEVENS POINT, Wis (WSAU) The CenterPoint Marketplace Mall in downtown Stevens Point will be sold at auction on May 3rd. Dial Properties, the mall's owner, has fallen behind on its payments. The bank, Valley Bank of Illinois, took over management of the property last summer and announced the start of foreclosure proceedings earlier this year.

At the time of foreclosure, the owners owed more than 2-point-5 million dollars in back payments, interest, penalties, and taxes.

The mall will lose one of its major tenants on May 31st. JC-Penny has already announced it will close its store there after losing money for several years.