Fashion Outlets of Chicago eyes expansion

Macerich is pursuing an option to acquire land in Rosemont, Illinois, to allow it to expand its Fashion Outlets of Chicago mall there, according to the local Daily Herald.



Rosemont authorities told the news site that Macerich could draft an option agreement within the next 60 days that would give it right of first refusal on a village-owned lot east of the shopping center that currently houses The Rosemont Theatre.



Macerich CEO Art Coppola hinted about the move in a recent quarterly earnings call, and Rosemont Mayor Brad Stephens is on the record as saying he would be in favor of razing the theater to let Fashion Outlets expand.



Adding the adjoining site could allow Fashion Outlets to grow to 800,000 sq. ft. from its current 538,000 sq. ft.



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