Home to Neiman Marcus’ flagship store on Mag Mile sells – The RealDeal

The buyer, Silvestri Investments, is betting on the revival of Chicago’s famed shopping district at a moment when it’s struggling with a series of pandemic-related challenges: a dropoff in foot traffic as office workers stay home and tourism declines; rising crime in the area, and vacant storefronts.
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The Paraclete
4 years ago

Silvestri Investments must have money to burn!

debtsor
4 years ago
Reply to  The Paraclete

knife catcher: A knife catcher is an idiot investor who buys something while its price is still dropping. Usually refers to someone who bought a house that is ‘an incredibly good deal’ just before it drops another 10 percent. Called a knife catcher as they are trying to catch a good deal, but will just probably lose their fingers as the knife goes whipping by. Example of usage: “Haw Haw Haw! They said I would never be able to sell my house in Florida in this bad economy, but some knife catcher showed up to take the turkey off my… Read more »

Last edited 4 years ago by debtsor
The Paraclete
4 years ago
Reply to  debtsor

Wonderful description! Lol!

Rick
4 years ago

My wife and I once went there, there were no chrome shopping carts by the doors. What’s up with that? You have to lug around what you buy manually? How archaic.

HeywoodJaBlome
4 years ago

No problem folks. Those high end retailers that are fleeing Michigan Ave will be replaced by highly profitable local businesses. Harold’s Chicken Shack #83 is moving in. La’Sha’Na’s Nail & Wig Emporium is looking for 10,000 square feet of space on the first floor, Elmo’s Fish House seeking a retail outlet near the Watertower. Problem solved

Freddy
4 years ago
Reply to  HeywoodJaBlome

Don’t forget prime retail space for a Pawn Daddy!
https://www.youtube.com/watch?v=qmuL33DfpW8

Rick
4 years ago
Reply to  Freddy

I love pawn shops. Nothing of interest for Men at Nieman Markus. But a pawn shop, Ill be there all day!

The Paraclete
4 years ago
Reply to  Rick

I agree, a pawn shop can be hours of entertainment. Last time I was in Bob’s Trading Post in West Dundee. You could buy a saxophone or a gun. Circa1977.

Lions Choice
4 years ago

From TheExpiredMeter.com CHI-EXIT/IL-EXIT UPDATE: After 2 Years Of Black Lives Matter Riots/Looting/Arson — Democrat Lockdown Lunacy — And A Downtown Crime Clusterf**k Of Carjackings, Robberies, Shootings And Lootings — The Once Thriving Shopping Mecca — Michigan Avenue’s Magnificent Mile — Chicago’s Economic Engine — And The Foundation Of The City’s Tax Base — Is On Life Support — And Failed Mayor Lightfoot Is Pulling The Plug – Washington Post; Neiman Marcus Mag Mile Building Sold — Will Neiman Marcus (A Store That Was Looted During The Black Lives Matter Riots — And A Store That Has Been The Repeated Target… Read more »

Last edited 4 years ago by Lions Choice
Lions Choice
4 years ago

CHI-EXIT/IL-EXIT UPDATE: After 2 Years Of Black Lives Matter Riots/Looting/Arson — Democrat Lockdown Lunacy — And A Downtown Crime Clusterfuck Of Carjackings, Robberies, Shootings And Lootings — The Once Thriving Shopping Mecca — Michigan Avenue’s Magnificent Mile — Chicago’s Economic Engine — And The Foundation Of The City’s Tax Base — Is On Life Support — And Failed Mayor Lightfoot Is Pulling The Plug – Washington Post; Neiman Marcus Mag Mile Building Sold — Will Neiman Marcus (Looted During The Black Lives Matter Riots — And The Repeated Target Of Michigan Avenue Smash And Grabs/Mass Shoplifter Flash Mobs) Be The… Read more »

WeAreDoomed
4 years ago

The world loves a contrarian…. Though the holding period might be measured in 3 digits before it becomes a viable asset…

Ataraxis
4 years ago

Message to Silvestri, who obviously don’t read Wirepoints:
Only bet what you can afford to lose.

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