The Magnificent Mile may become a little more magnificent in coming months, as luxury car maker Tesla Motors is in talks to lease a two-level showroom in the Park Hyatt Chicago.
Entrepreneur Elon Musk is reportedly looking into opening a flagship Tesla showroom at 800 N. Michigan Ave, according to Crain's Chicago Business. The two-level, 10,000-square foot space has been vacant since clothing brand Giorgio Armani moved its boutique to Oak Street in August.
The lease has not been finalized and other potential tenants, including other car companies, have been looking into the space. Tesla is unique in that the company sells its cars directly to customers, rather than through a traditional dealership structure.
In 2009, the company opened a sales and service center at 1053 W. Grand Ave., and three other locations in various Chicago suburbs have opened since. Car aficionados recognize Tesla as a luxury brand, with status symbol cars like the Model S selling for around $75,000.