Quote:
Originally Posted by the urban politician
Does that part of Michigan Avenue even support street level retail?
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For sure. We'd only be talking about a small amount of retail space here in any event. And literally any corridor can be over-retailed these days, granted. I mean the Mag mile in aggregate right now is quite over-retailed because of all the higher-floor retail space that is either empty, about to be empty, devoted to the dying department store format or otherwise functionally on its last legs.
It is a good question though for many new highrises - I question more the many mid-rise/high-rise projects on random streets/intersections in River North, for example, in terms of asking whether there has been a bit too much retail space added for the market, and specifically the changing nature of retail. On the plus side, you have the space available to accommodate different types of retail/services etc that gain traction in the future.....the downside of course is that some of this space could sit dark for a long time until then.