The Magnificnt Mile
This glitzy strip of stores and striking buildings runs for, you guessed it, about a mile (1.6 km), along North Michigan Avenue. A sharp developer came up with the “magnificent” moniker in 1947, and it has stuck ever since. Often known as the Mag Mile, it is home to big-guns department stores like Neiman Marcus, as well as high-end boutiques such as Tiffany & Co, and popular chain stores (Gap et al). The strip is at its best around Christmas when twinkling trimmings provide welcome relief from the often gray days.
Brand Spanking New Luxury Residences coming to The Mile. Be among the first to purchase one. Got a Million$ to spare? The Mag Mile is home to the only building in the central city that survived the Great Chicago Fire in 1871.
The Macerich Co. is buying a mall on Chicago's "Magnificent Mile" for $515 million, according to media reports on Wednesday.
The purchase of the Westfield North Bridge mall on Michigan Avenue represents Macerich's entry into the Chicago market. In addition to the Nordstrom-anchored mall, the deal will include several restaurants and a parking garage.
The reports are saying that Macerich is currently doing due diligence on the deal.
Westfield bought the mall for $315 million in 2003.
Macerich is a Santa Monica-based real estate investment trust focused on malls and shopping centers.
A rainy night on the Magnificent Mile .
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