Retailers Continue to Desire Michigan Avenue Presence in Chicago.

From: Chicago Tribune (Chicago, Illinois) (via Knight-Ridder/TribuneBusiness News) | Date: April 12, 2002 | Copyright information

Byline: Thomas A. Corfman

Apr. 12--Retail vacancy along the Magnificent Mile is at its lowest level in more than a decade, defying a unforgiving economic climate that has many merchants closing stores and cutting back on new ones.

Unike many suburban shopping centers that have been battered by the loss of large anchor tenants, Michigan Avenue's vacancy rate this spring dropped to a minuscule 1 percent of its 3.3 million square feet of retail space, compared to 1.5 percent 12 months ago, according to a soon-to-be-released annual study by Chicago-based real estate firm ...

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