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Exhibit 10.73    
  


December 23,
2002 


Pleasant
Lake Apts. Corp.

Pleasant Lake Apts., Ltd.

23811 Chagrin Boulevard

Suite 200

Beachwood, OH 44122 


Attn:
Howard Amster 




	Re:
	Agreement
to Purchase Units in

Horizon Group Properties, L.P. (the "Partnership") 





Dear
Howard: 


        This
letter is to confirm the agreement of Pleasant Lake Apts., Ltd. ("Pleasant Lake"), an affiliate of Howard M. Amster, to purchase 145,349 limited partnership units (the
"Units") in Horizon Group Properties, L.P. (the "Partnership") from Horizon Group Properties, Inc. ("HGPI") and the agreement of HGPI to sell the Units to Pleasant Lake at a purchase price of
$5.16 per Unit for an aggregate purchase price of up to $750,000.00, payable in full and in cash within three business days following the receipt of notice from HGPI to Pleasant Lake that the
conditions set forth in this letter have been satisfied including the receipt of the amendment to the partnership agreement of the Partnership. 


        HGPI
represents and warrants that it owns the Units and has full power and authority to sell the Units; such Units will be transferred free and clear of any liens or encumbrances; such
sale will not violate the partnership agreement of the Partnership, the Articles of Amendment and Restatement of HGPI or any other contract or agreement that HGPI is a party to; such sale will not
violate any state or federal securities laws; that all authorizations and approvals required for the sale of the Units have been obtained; that no assessments or other amounts are owed to the
Partnership by the owner of the
Units; and that the purchase of the Units will not cause a violation of the Excepted Holder Certificate of Howard M. Amster. 


        Pleasant
Lake represents and warrants that it has full power and authority to purchase the Units; that such purchase will not violate any contract or agreement to which it is a party;
that such purchase will not violate any state or federal securities laws; and that Howard M. Amster controls and is the holder of approximately 96% of the ownership interests in Pleasant Lake. In
addition, Pleasant Lake acknowledges that it has not relied on any advice of HGPI, the Partnership or any of their respective affiliates, employees, directors, counsel or other advisors regarding the
federal, state and local tax consequences or tax attributes of owning the Units. Pleasant Lake is aware that there are substantial limitations and restrictions on the circumstances under which
Pleasant Lake may offer to sell, transfer or otherwise dispose of the Units, so that it might not be possible to liquidate this investment readily and it may be necessary to hold the investment for an
indefinite period. Pleasant Lake is an accredited investor under the Securities Act of 1933, as amended, is not a registered investment company under the Investment Company Act of 1940, as amended,
and is not a business development company as defined in the U.S. Investment Advisers Act of 1940, as amended. 


        The
representations and warranties of the parties shall be true as of the closing. 


        This
Agreement shall be further conditioned upon receipt by Pleasant Lake of (i) certified resolutions of HGPI approving the sale of the Units to Howard M. Amster or his
affiliate; (ii) certified resolutions of the Partnership consenting to the transfer of the Units by HGPI to Pleasant Lake and admitting Pleasant Lake to the Partnership as a substitute limited
partner; and (iii) an amendment to the partnership agreement of the Partnership converting the Units to limited partnership units. This Agreement shall be further conditioned upon receipt by
the Partnership of an Acknowledgement by Substituted Limited Partner from Pleasant Lake in form satisfactory to the Partnership. 








        HGPI
hereby commits to cause to be prepared and filed with the Form K-1 for each partner of the Partnership, schedules listing the profit and loss of each of the
properties owned directly or indirectly by the Partnership commencing for the year ending December 31, 2002. 


        At
the closing of this transaction, HGPI shall deliver the Units to Pleasant Lake with duly-executed unit powers attached. At such closing, HGPI and the Partnership shall
provide Pleasant Lake with an executed letter directing the transfer agent to transfer such Units into the name of Pleasant Lake. 


[signature
page follows] 






        This
Agreement sets forth the complete understanding of HGPI and Pleasant Lake and shall be binding and enforceable on each party in accordance with its terms. 



	 	 	Very truly yours,
	

 	
 	

By:	

/s/  GARY J. SKOIEN      
 Gary J. Skoien

Chairman and Chief Executive Officer

Date: December 23, 2002





ACCEPTED
AND AGREED: 


PLEASANT
LAKE APTS., LTD. 


	By
	Pleasant
Lake Apts. Corp.,

General Partner 






	/s/  HOWARD M. AMSTER      
 Howard M. Amster, President

Date: December 23, 2002	 	 











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Exhibit 10.73