Downtown Chicago malls in danger of dying off – Axios Chicago

North Michigan Avenue's vacancy has risen to 33%, or at least 1 million of the street's 3.2 million square feet, since 2021. Chicago's Water Tower Place is signaling a move away from retail, looking to sell off its top floors to office space. Meanwhile, 900 N. Michigan (just north of Water Tower Place) appears to be standing strong — due in part, building managers say, to marketing the shopping destination as a "lifestyle building," with a gym and a salon.
5 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Hello, Indiana!
2 years ago

Lots of room for tents chock full of illegals and food trucks for the same.

debtsor
2 years ago

I haven’t set foot in the downtown malls in nearly half a decade, and I haven’t been to the Mall on Clark street in probably 15 years. Apparently, many people think the same.

Veterano
2 years ago

With a 33% vacancy rate for the Avenue, does that imply property taxes will need to increase 50% for the remaining tenants for the government to break-even? Look out below.

Veterano
2 years ago
Reply to  Veterano

Correction: With a 33% vacancy rate for the Avenue, does that imply property taxes/lease costs will need to increase 50% for the remaining owners/tenants for the government to break-even? Look out below.

Larry Canfield
2 years ago
Reply to  Veterano

No, it means the poor slobs in the neighborhoods will get to pony up more. Kindof a SW suburb effect.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE