In February 2003, the retailer opened a separate home and furniture store, located in the former Medinah Temple, just two blocks off of Michigan Avenue.īloomingdale’s $40 million redevelopment of the Medinah Temple space not only provided extra sales space in a unique environment but also saved the empty building, with its onion-shaped domes, from demolition. When Nordstrom JWN arrived in the Magnificent Mile in 2000, Bloomingdale’s sought to expand its home department in response to the increased competition. "Even Chicago's film critic Roger Ebert announced in the Chicago Sun-Times that if Field's became Macy's, he was taking his business to Bloomingdale's, only to have readers to tell him of the Macy's connection,” says McKay. However many shoppers were unaware that Macy’s and Bloomingdale’s were under the same ownership. When Macy’s took over the Marshall Field’s stores in September 2006, many local residents promised to take their business to other retailers, including Bloomingdale’s. store, the former Marshall Field's Chicago flagship. It not only sold cutting edge fashions, it dictated trends.Ī photograph from July 2019 shows the renovation and downsizing underway at the State Street Macy's. Bloomingdale’s was often regarded as part store, part theater. In September 1988, Bloomingdale’s entered the Chicago market and opened a large store on North Michigan Avenue, promising to bring “a little bit of Manhattan” to Chicago. The Windy City has been home to Saks Fifth Avenue, and former locations of Bonwit Teller, Lord & Taylor, Best & Co. Macy’s is not the first New York-based retailer to have a Chicago presence. “We have maximized our selling floors to create a more productive store using the vast space that we already have… of course, we are also continuing the tradition of the world famous Walnut Room,” says Schwartz. Macy’s says it remains committed to the State Street store. The State Street location is one of the properties used as collateral for its high-risk debt loan. Its top six floors were sold off in 2018 as commercial space and its bottom seven floors recently completed an initial consolidation.
Macy’s has maintained a State Street presence but has downsized the former Field’s flagship location. The building was fully completed in 1914 and originally designed by architect Daniel J.
The first floor jewelry department is walled off and refurbished during a 2019 renovation of the. Some of the company’s most valuable properties have been used for collateral for loans geared to pay down its massive accumulated debt load. In February, the retailer announced that 125 underperforming locations would close over the next three years. Since 2017, Macy’s has been selling off real estate and streamlining its large fleet of stores. “It’s been a struggle (for Macy’s) to adapt to this new economy.” “Macy’s is going through struggles as a company all over the country,” said Lightfoot. Lightfoot insisted that it was not related to the latest looting incidents. But on Friday afternoon, Mayor Lori Lightfoot confirmed that Macy’s recently discussed leaving Water Tower Place. “We do not have any comment regarding the Crain's story,” says Macy’s Schwartz. And that was before COVID-19 and demonstrations. Crain’s also reported that annual sales at the Water Tower Place location dropped from $85 million in 2014 to $54 million in 2019. This statement comes one day after Crain’s Chicago Business reported that Macy’s wishes to close its Magnificent Mile store. (Photo by Interim Archives/Getty Images) Getty Images This photograph shows the boarded up store on May 31, 2020, following a night of protest and looting after the murder of George Floyd. The store reopened on Wednesday August 12. The State Street Macy's, home of the former Marshall Field flagship store in Chicago, was subject to.
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