Property News · June 10, 2019

Why high streets like Chicago’s North Michigan Avenue will remain as the destination of choice for shoppers and retailers


North Michigan Avenue seems a little less magnificent lately.Retail rents fell in 2018 after soaring in recent years, and Chicago’s undisputed top shopping destination has faced a long slog in filling high-rent flagship spaces.The Magnificent Mile’s transition is indicative of a broader trend, as “high streets” – the world’s most prestigious places to buy and sell goods – grapple with massive changes in consumer habits.The explosive growth of e-commerce and waves of retailer bankruptcies,…

Source : South China Morning Post
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