Macy’s is closing its flagship store in Water Tower Place, creating a huge vacancy on the Magnificent Mile during an already challenging time for retail landlords.
The 170,000-square-foot store in the North Michigan Avenue vertical mall will close after a clearance sale that starts this month and will run for 8 to 12 weeks, Macy’s said Tuesday.
“After careful consideration, Macy’s has decided to close our Water Tower Place location,” Macy’s said in a statement. “This closure is part of the company’s strategy to right-size its store fleet, announced in early 2020. The decision to close a store is always a difficult one, and Macy’s Water Tower Place has been honored to serve its customers on the Magnificent Mile for 45 years.”
“right-sizing” must be code for something. We’ll figure it out eventually.
Will voters figure out that Groot has single-handedly destroyed what was once the premier shopping destination in the Midwest in a matter of months?