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.
Initial details have been revealed for the expansion of 360 Chicago, located at the top of 875 N Michigan Avenue, commonly known as the John Hancock Center. Sitting on the northern end of the Magnificent Mile, which has seen increased retail vacancy, the project comes two years after the famed Signature Room closed its doors.
Plans have been revealed for the redevelopment of the former Lawry’s The Prime Rib at 100 E Ontario Street in the Magnificent Mile area. Located on the corner with N Rush Street, the project will convert the historical McCormick Mansion into a new magic-based, adults only, experience dubbed ‘The Hand & The Eye’.
Some new shake ups and openings have been announced for retail stores around Michigan Avenue, Rush Street, and Oak Street within the Near North Side. Two very different stories have been forming over the years between the iconic shopping drag and the boutique anchored side streets, both of which are heating up post-pandemic.
The Chicago City Council has approved the conversion of the office building at 500 N Michigan Avenue on the Magnificent Mile. Announced earlier this year, the proposal has sailed through all of its necessary approvals recently and will join various other conversions downtown. The project is being led by Connecticut based Commonwealth Development Partners with GREC Architects.
