Its stunning eight-level atrium features more than 100 of your favorite stores and restaurants plus a mix of distinctive specialty shops and boutiques. We look forward to discussing the future of this iconic shopping destination with our clients and other key stakeholders. At the pinnacle of Chicago's famed Magnificent Mile, Water Tower Place is Chicago's premier shopping destination. While we cannot comment on specifics of this transaction, MetLife Investment Management has a proven track record in institutional real estate and a dedicated team in the Chicago area. Numerous other retailers closed for good at the mall, including the Foodlife food hall, Mity Nice Bar & Grill, Gap and Banana Republic.ĭave Franecki, spokesman for MetLife Investment Management, provided this statement: “Water Tower Place is a high-quality real estate asset that is well-positioned in the Chicago market. A huge tourist attraction and right next door. Incidents involving youths led the mall’s management to impose limits on when minors could visit unaccompanied by an adult. 341 reviews of Water Tower Place The biggest and most popular shopping mall in the heart of downtown Chicago. Michigan Ave., also suffered from shopper reactions to growing crime along the Magnificent Mile. This stretch of lustrous shopping in downtown Chicago features many. It’s another setback for a complex that once defined retail chic but whose fortunes were cut down when the pandemic forced prolonged shutdowns. Water Tower Place is one of the most prominent malls that anchors The Magnificent Mile. The action indicates Brookfield believes the mall is worth less than an estimated $300 million in debt on the property. Ticket reseller founder assembling giant 15M Water Tower condo. Brookfield Properties said Tuesday that it is turning over the vertical mall to its lender, a unit of New York-based insurer MetLife. Water Tower Place at 845 North Michigan Avenue (LoopNet, iStock/Photo Illustration by.
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