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Saks Reopening Two Chicago Stores It Shuttered Pre-Pandemic

Saks Off 5th is returning to State Street in the Chicago Loop after a three-year hiatus. Crain’s Chicago Business reported that the reopening is welcome news for a key Chicago retail strip awash in vacant space. 

The discount apparel retailer said it’s reopening a store at 6 S. State St. and another in the NewCity shopping center on the Near North Side after closing both in 2019. The move will lower the retail vacancy rate on State Street, which has spiked since the onset of the COVID-19 pandemic due to a wave of store closings. 

State Street needs many more retailers to recover from a pandemic that has been devastating to Loop retail real estate and to State Street in particular, reported Crain’s. However, CBRE’s Luke Molloy told Crain’s he’s seeing more retailers shopping for space along the street. 

“It’s a sign that things are coming back,” he said. 


Inside The Story

CBRE's Molloy

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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