In what has been a continued trend of recognizable businesses shutting down shop on the iconic retail strip in downtown Chicago, one more well-known chain has announced plans to move away from the Magnificent Mile.
AT&T announced that their store, located at the corner of Ontario Street and Michigan Avenue, will close on August 1.
“We never like to see businesses leave necessarily, but we’re in the middle of a very vibrant district and a changing and challenging time for retail,” Kimberly Bares, CEO of The Magnificent Mile Association told NBC Chicago.
Bares explains that despite another anchor store like AT&T closing, things are looking up for the area.
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“We’re very convinced that retail is on a rebound," she added. "We’ve talked to our retail brokers. It seems that the worst of that is behind us.”
Chicago resident Kristina McGrath feels that Chicago's legacy of resiliency will extend to the struggles along the Mag Mile.
“I think if you follow the history of Chicago, it feels like it goes in ebbs and flows, and I think it will recover,” McGrath told NBC Chicago.
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Some Chicagoans seem to agree with Barnes, but others have found this stretch of Michigan Avenue anything but magnificent.
“Maddening! The Maddening Mile!” said Chicagoan Markita Juniel. “Recovery in a sense where they’re giving more opportunities to some smaller businesses so they’re allowing opportunity. As far as recovery, I still don’t feel that’s the correct word.”
AT&T released a statement confirming its Michigan Avenue store closing which reads in part, “Consumer shopping habits continue to change, and we’re changing with them...All retail employees affected by this change will be offered jobs at one of the many other retail locations in the city.”
While Verizon's store on the Mag Mile closed in March of this year, the Mag Mile is still about 75% occupied with more businesses opening soon.
