The Chicago Mayor Lori Lightfoot says that Retail Giant Macy’s wants out of the city’s Water Tower location. Can you really consider yourself a major city without a Macy’s?
“My understanding is that Macy’s notified the property owners at Water Tower in February that they probably were not going to renew their lease,” Lightfoot said. She said Macy’s decision is tied to its own problems in the retail industry and that “false reporting” linked the possible closure to the looting.
Macy’s representatives did not return several calls and emails seeking comment. Going back to the Marshall Field’s name, the store has anchored Water Tower Place since it opened in 1975.
The mall’s owner, Brookfield Property Partners, also could not be reached. It’s possible Macy’s could be threatening to leave as leverage for a better deal from the landlord.
Asked about the situation, Ald. Brian Hopkins (2nd) said he knew Macy’s was in lease renewal talks but was unaware of a potential shutdown. While the store sustained looting damage, he said Macy’s “has been actively working on the space to get ready to reopen. The progress they have made is substantial.”
Thanks to The Chicago Sun Times for contributing to this piece.
