Apple Inc. reportedly plans to plug in at a new location in Chicago.
The California company’s flagship store in Chicago currently sits at 679 N. Michigan Ave., but Crain’s Chicago Business, citing sources familiar with the North Michigan Avenue retail market, reports that the company will likely make 401 N. Michigan Ave. its new home.
Crain's reports the new location will be mostly below ground but will be accessible from the street through a glass structure on Pioneer Court.
A potential move was first reported by the business publication last August, with Topshop and Saks Fifth Avenue stores among the initially scouted locations.
Apple's Mag Mile storefront is 11 years old and could be seen as outdated when compared to other flagship stores like one of the company’s New York locations, which has customers walk in through the glass box.
Apple would be a valuable tenant for many landlords in the area.
The company’s North Avenue location on the city’s North Side has been hailed for its retail value after moving into the site of a former gas station in the wildly congested North & Clybourn corridor.
Greg Merdinger, a veteran Chicago developer, tells Crain’s the store “made the location,” turning it from good to great.
Apple Inc. could not immediately be reached for comment.