A new flagship Chase Bank location has been announced at 830 North Michigan Avenue in the Magnificent Mile area as we check in on additional developments nearby. The evolving retail strip has seen its ups and downs in recent years, hovering around a 29 percent vacancy rate, largely concentrated in its northern portion.
To close out the year, we take a look at some of the retail shakeups along the famed street, which is seeing a revival and an uptick in leases as the city looks to evolve one of its largest economic engines. The list below is not conclusive but is extensive based on our research. This does not include any developments off the strip or south of the river.
View of L’Agence via L’Agence
L’Agence – 900 North Michigan Avenue
Replacing the former Michael Kors location along the streetfront of the mall, the California-based women’s retailer enters the Midwest market with its 11th store worldwide. The luxury brand sells a broad range of apparel and accessories, with locations in cities such as Seoul and Paris. Now open, the retailer signed a 10-year lease.
SHIFT Architecture Biennial – 840 North Michigan Avenue
Located within the former H&M space in the same building as the Chase flagship, the four-story activation expands the city’s famed biennial to a new location alongside the Cultural Center. Spanning 65,000 square feet, the temporary exhibit brings art, architecture, and more to the retail strip and is open Thursdays through Sundays until January 31, 2026.
Rendering of new Chase location via Chase
JPMorgan Chase Flagship – 830 North Michigan Avenue
Work is underway on the two-story, 11,800-square-foot space that will become the bank’s first Midwest Financial Center. The 4,000-square-foot ground floor will house a standard banking branch, while the 7,000-square-foot second floor will contain a private client financial center for individuals earning $1 million to $5 million annually, a new focus division for the bank.
Its opening will also mark the closure of Chase’s two other Michigan Avenue branches this coming spring. These locations will be consolidated into the new space, with staff transferring as well. Additionally, 800 square feet on the third floor will be dedicated to employee-only areas. The new location is expected to open by mid-2026.
Hotel Chocolat – 830 North Michigan Avenue
Just around the corner from the new Chase outpost, British chocolate retailer Hotel Chocolat recently opened its third Chicago location in the former Ghirardelli space. The 4,000-square-foot store features a large chocolate wall along with a full-service café offering drinks and baked goods, marking a return to form for the corner that once housed a Hershey’s store.
Signage for new Leica Store via rerunvp on Reddit
Leica Camera – 800 North Michigan Avenue
Across from the historic Water Tower, German camera company Leica will open its first Midwest outpost. Founded in 1986, the company produces a wide array of products that will be showcased in the store, including lenses, optics, accessories, and pre-owned items. The shop will join other Leica locations in cities such as Boston and Miami.
New MANGO store via MANGO
MANGO – 664 North Michigan Avenue
Spanish fashion retailer MANGO opened its first Chicago location earlier this month. The 11,000-square-foot store replaces the former Tommy Bahama, Cubs, and Loft stores. The space was designed to feature views of the avenue from within and incorporates a Mediterranean villa–inspired aesthetic with a Chicago twist, according to MANGO.
Charles Tyrwhitt – 625 North Michigan Avenue
The British menswear retailer is set to open its second downtown location, joining an existing outpost at 208 South LaSalle Street. The new 2,800-square-foot store will replace the former Coach location at the base of the high-rise, which has sat mostly vacant since its two flagship retailers departed. An opening timeline has not been announced.
The North Face – 605 North Michigan Avenue
The outdoor gear retailer is set to relocate from its 16,000-square-foot space within the John Hancock building to a new 5,000-square-foot location further down the street. The two-story space previously housed Roots Canada and later Colores Mexicanos, which reportedly left due to rent increases. The store is expected to open next year, leaving the iconic skyscraper without anchor retailers.
View of Urban Playground in the UK Via UP
Urban Playground / The Cube – 600 North Michigan Avenue
UK-based Urban Playground focuses on competitive, interactive challenges within a high-tech gaming venue. Its 25,000-square-foot Chicago location will occupy the third floor of the building above the upcoming Uniqlo store. The venue will feature 21 gaming rooms, three bars, and a lounge. Several other gaming-focused tenants are also expected to join the area.
Uniqlo – 600 North Michigan Avenue
Occupying the lower two levels of the building and replacing the former Under Armour store, Japanese retailer Uniqlo is set to return to the Magnificent Mile after closing its former flagship above the JPMorgan Chase location. While the new 30,000-square-foot store is smaller than its predecessor, it will reinvigorate the corner while maintaining the retailer’s State Street location.
A. Lange & Söhne – 453 North Michigan Avenue
Situated on the prime corner of the Tribune Tower redevelopment, the German watchmaker—founded in 1845—recently opened its first Midwest boutique. First announced in 2023, the retailer leased 1,400 square feet and took nearly two years to open. This comes as the retail portion of the tower was recently sold for $47 million.
—
Further developments are also planned south of the river, with Portillo’s and Hello Kitty Cafe announcing upcoming Michigan Avenue locations. Additionally, several new stores have opened in the Gold Coast, including Kith. Most recently, a new skyscraper was announced for 669 North Michigan Avenue, replacing the existing Nike flagship.
As additional developments emerge, we will continue to cover them.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
I remember just a few years ago we had a year end top 31 tallest buildings list like NYC has. I guess we get what we deserve and vote for.
Can’t even take a single day off… Your badgering is getting exhausting.
If our market was active enough to warrant a year-end list like that — which we all wish were the case — I have no doubt that the YIMBY Administrators would’ve posted about it. Confused about “we get what we deserve and vote for.” Did I miss a vote for YIMBY President?
Yimby is doing a great job. We just have very few tall buildings going up. The corruption, taxes and terrible leadership has killed us. There’s plenty of demand for rental properties too.
If you believe those are the main reasons, instead of the high costs of steel and other construction related materials, along with the financing market being pretty screwed up right now, then you’re not paying attention to the details that matter.
NYC can continue to have high rise development because of the insane rents that NYC gets that Chicago doesn’t (and this is a very good thing for Chicago).
NYC, Dallas, Miami, Atlanta, Toronto, Seattle…etc. way ahead of us. They don’t seem to have these problems. We are the third largest metro in the country and are barely building anything. And this is all while rents keep rising extremely fast here. Yet, still very little construction. We can’t keep using the excuse of steel, financing, etc. if other cities are building.
Hey team,
For some transparency, the year-end list was normally managed by Jack and I have not been able to keep up with it since his departure. Hence the lack of countdown the last two years. I will attempt to try it out again at the end of 2026.
Cool. We can sing a different song, beat a different drum.
Instead of “waaaaah, we’re not NYC!” it’ll be “waaaaaah, our tallest buildings aren’t as tall as NYC’s” 😩
First of all NYC is literally 4 times the size of Chicago. Im so sick of everyone comparing Chicago to NYC. I love Chicago simply because its NOT NYC. NYC is too over crowded, dirty, and smelly.
Second of all, I work in the construction sector for a subcontracting firm and I will tell you that SEVERAL high-rises will be having Q1 and Q2 starts in 2026. Including some that have been dormant for awhile. The sky is high in Chicago in 2026.
Literally, who wants to pay $5,000/mo for less than 600 sqft.
Good riddance we’re not in the same league as NYC.
The only things I am more envious of are DC’s transit headtimes, Paris’s people-centric planning agenda, Barcelona’s social housing, and NY’s crime stats.
Dormant high-rises in the pipeline are different than new tower proposals surfacing every month like they do in boom times. It’s been years since we’ve seen a legitimate skyline altering skyscraper proposal. Filler is important but this is like the early 90’s when skyscraper construction dried up. We won’t see another 800’er this decade.
Years…
Seriously people, get another hobby other than constant wailing. Your echo chambers are getting pathetic.
Do we need to list all the towers since the last development boom? There’s 400 Lakeshore for you to get your fix. (Trying to word this as nicely so it’s not cut but damn you’re making it hard.)
Are the two towers off Michigan Ave just chump change? One Chicago? The final Wolf Point tower was completed in 2023…
We have hundreds of empty acres around Green Line stations. Use at least one morsel of common sense on why we aren’t building like NYC.
Thanks for the update! Great mix of new tenants.
If you hate who runs this place, I think Uhaul has a great New Years sale on trucks
‘Don’t let the door hit you on the way out’ is an old and tired answer when people complain about bad leadership killing investment in Chicago.
Chicago’s high rise building boom is dead, all coincided with the new mayor’s term. So yeah, the Uhauls sure are leaving town, they are Uhauls full of money and investment. And they done said ‘bye bye’ but what are you gonna do about it?
Happy New Years to you too, Tupper!
May next year bring less things to complain about and maybe get a little positivity out of your bunch. But Chicago is still blue… so I expect very little from y’all.
Great update, thanks.
Love it. And I’m hapoy to see it!
The work of the YIMBY staff is appreciated. Happy holidays!
Well I’m pretty excited to read some positive news about the Mag Mile, after all the doomsday predictions of the past year. Let’s see some good old revitalization!
Indeed, me too! Chicago is an incredible city worth cheering on and encouraging the best for. There are very few others cities in this world quite like Chicago with its unique characteristics that we take for granted every day.
Serenity now
serenity now… insanity later