Target Corp. may be opening up shop on Chicago’s signature shopping corridor.
The discounter is looking for space on the Magnificent Mile (Michigan Avenue), reported the Chicago Tribune, and the plan could include moving into part of the massive space that will open up in Water Tower Place when Macy’s closes its flagship in the shopping center. But not everyone is happy about the prospect, according to the report.
Cook County Treasurer Maria Pappas spoke out against Target’s potential arrival on the avenue in a radio interview, saying Target would hurt the reputation of Michigan Avenue and nearby Oak Street as destinations for higher-end retailers.
“It demeans the quality of Michigan Avenue,” Pappas said during the interview on WGN Radio.
A spokesperson for Water Tower Place owner Brookfield Properties told the Chicago Tribune that it has yet to confirm future plans for the center and that “public discussion of future tenancy is purely speculative.”
At 323,812 sq. ft., including 227,212 sq. ft. of selling space, Macy’s at Water Tower Place is the largest available retail space in all of Chicago, and one of the largest vacancies ever on the Magnificent Mile, the report said.