H&M Taking Over Long-Vacant Apple Store Space on Mag Mile
The former Apple store at 679 N. Michigan Ave. has finally landed a tenant after sitting vacant for five years: Swedish apparel retailer H&M, which is moving there from its current home four blocks north, reported Crain’s Chicago Business.
It’s one of the biggest retail leases signed on the Magnificent Mile in the past few years, a deal that Crain’s said is both negative and positive for the beleaguered shopping strip.
Quantitatively, it’s negative because H&M is cutting its space roughly in half through the move. The chain currently occupies about 60,000 square feet at 840 N. Michigan Ave., across from Water Tower Place. It will shrink down to about 30,000 square feet in the Apple building.
The good news is that H&M is staying on the Mag Mile, unlike many other retailers, including Gap, Uniqlo and Banana Republic, which have left the boulevard. JLL’s Matt Ramsey represented H&M.