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Originally Posted by thegoatman
oh wow didn't think about that. This make sense. Alot of the spaces on Michigan ave have huge footprints. Meanwhile Oak st. has a lot of nice sized boutique sized footprints
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Speak of the Devil
Is it time to tear down that Mag Mile building?
With a 29% vacancy rate on North Michigan Avenue, a wrecking ball might help some landlords on the shopping strip salvage their investment.
https://www.chicagobusiness.com/comm...ords-teardowns
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The North Michigan Avenue market might also benefit by shrinking. The district has too much retail space, especially in buildings with multiple floors, Kirsch says. Retailers today are a lot choosier, favoring smaller, more-visible spaces on the ground floor. Space on the second floor or above is much harder to lease than it was.
“There’s almost zero demand for multilevel flagship retail,” Kirsch says.
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A list of low rise retail with potential for redevelopment.
840 N Michigan - Empty (except Verizon)
830 N Michigan - Empty
717 N Michigan - 4/5 Empty (except It’Sugar)
663-669 N Michigan (Nike)
600 N Michigan - Leased ( Under Armour, Ann Taylor, Levi’s)