Chicago’s Michigan Avenue, known as The Magnificent Mile, has experienced sufficient leasing momentum that local retail experts believe that it’s well into its long-awaited comeback. With a 25.48% vacancy rate of its 2.9M SF of inventory, the Avenue certainly still has a road to recovery ahead of it. However, the following points demonstrate why local experts believe that the Avenue has returned:

● Lease signings or store openings in 2024 include Aritzia, Uniqlo, The Harry

Potter Experience, Mango, L’Agence and A. Lange & Söhne ON CONFLICT (id) DO UPDATE SET created_at = EXCLUDED.created_at, title = EXCLUDED.title, body = EXCLUDED.body, street_id = EXCLUDED.street_id, show_on_homepage = EXCLUDED.show_on_homepage, authored_as_location = EXCLUDED.authored_as_location, user_id = EXCLUDED.user_id, deleted = EXCLUDED.deleted, is_street_closing_alert = EXCLUDED.is_street_closing_alert, is_street_opening_alert = EXCLUDED.is_street_opening_alert, brand_id = EXCLUDED.brand_id, entity_type = EXCLUDED.entity_type, urls = EXCLUDED.urls, mentions = EXCLUDED.mentions;

● The longstanding tenancy of Nordstrom, Neiman Marcus, Tiffany, Ralph Lauren, Hugo Boss, Louis Vuitton, Gucci, Bulgari, Omega, Salvatore Ferragamo, Max Mara, Ermenegildo Zegna, Burberry, The North Face, American Girl and H&M have operated stores on the Avenue for at least 15 years ON CONFLICT (id) DO UPDATE SET created_at = EXCLUDED.created_at, title = EXCLUDED.title, body = EXCLUDED.body, street_id = EXCLUDED.street_id, show_on_homepage = EXCLUDED.show_on_homepage, authored_as_location = EXCLUDED.authored_as_location, user_id = EXCLUDED.user_id, deleted = EXCLUDED.deleted, is_street_closing_alert = EXCLUDED.is_street_closing_alert, is_street_opening_alert = EXCLUDED.is_street_opening_alert, brand_id = EXCLUDED.brand_id, entity_type = EXCLUDED.entity_type, urls = EXCLUDED.urls, mentions = EXCLUDED.mentions;

● The return of tenants who previously left the Avenue or relocated to another location on the Avenue include Apple, Uniqlo, Sephora, Paul Stuart, Swarovski, Coach, Rolex, H&M, and Ghirardelli ON CONFLICT (id) DO UPDATE SET created_at = EXCLUDED.created_at, title = EXCLUDED.title, body = EXCLUDED.body, street_id = EXCLUDED.street_id, show_on_homepage = EXCLUDED.show_on_homepage, authored_as_location = EXCLUDED.authored_as_location, user_id = EXCLUDED.user_id, deleted = EXCLUDED.deleted, is_street_closing_alert = EXCLUDED.is_street_closing_alert, is_street_opening_alert = EXCLUDED.is_street_opening_alert, brand_id = EXCLUDED.brand_id, entity_type = EXCLUDED.entity_type, urls = EXCLUDED.urls, mentions = EXCLUDED.mentions;

● Current foreign-based retailers include Louis Vuitton, Gucci, Aritzia, Bulgari,

Omega, Burberry, Salvatore Ferragamo, Mango, Ermenegildo Zegna, Max Mara, H&M and Zara ON CONFLICT (id) DO UPDATE SET created_at = EXCLUDED.created_at, title = EXCLUDED.title, body = EXCLUDED.body, street_id = EXCLUDED.street_id, show_on_homepage = EXCLUDED.show_on_homepage, authored_as_location = EXCLUDED.authored_as_location, user_id = EXCLUDED.user_id, deleted = EXCLUDED.deleted, is_street_closing_alert = EXCLUDED.is_street_closing_alert, is_street_opening_alert = EXCLUDED.is_street_opening_alert, brand_id = EXCLUDED.brand_id, entity_type = EXCLUDED.entity_type, urls = EXCLUDED.urls, mentions = EXCLUDED.mentions;

● Global American-based brands on the Avenue include Ralph Lauren, Tiffany, Starbucks Reserve Roastery and Tumi ON CONFLICT (id) DO UPDATE SET created_at = EXCLUDED.created_at, title = EXCLUDED.title, body = EXCLUDED.body, street_id = EXCLUDED.street_id, show_on_homepage = EXCLUDED.show_on_homepage, authored_as_location = EXCLUDED.authored_as_location, user_id = EXCLUDED.user_id, deleted = EXCLUDED.deleted, is_street_closing_alert = EXCLUDED.is_street_closing_alert, is_street_opening_alert = EXCLUDED.is_street_opening_alert, brand_id = EXCLUDED.brand_id, entity_type = EXCLUDED.entity_type, urls = EXCLUDED.urls, mentions = EXCLUDED.mentions;

Clearly, some work remains in order to bring the Avenue all the way back, but with the above-mentioned retailers, along with Alo Yoga, Canada Goose, Hugo Boss, Breitling and David Yurman, the return of Chicago’s Magnificent Mile is well at hand.