Banana Republic latest retailer to bail on Chicago's not-so-Magnificient Mile

Mag Mile after June, 2020 riot

North Michigan Avenue in Chicago, until two two rounds of riots in 2020--oops, liberals if you are reading this, I'll use your term, civil unrest--was one of America's premier shopping districts. Kind of like Rodeo Drive in Beverly Hills and Fifth Avenue in Midtown Manhattan. But no more. The Magnificent Mile is not so magnificent. Yesterday another departure was announced--Banana Republic. 

From TheRealDeal:

The clothing brand, which has had a store at 744 North Michigan Avenue for more than a decade, joins a wave of retailers exiting what was once the city’s most important shopping strip.

“Michigan Avenue has turned into nothing more than a regional mall,” JLL Managing Director Peter Caruso told the outlet. “There’s nothing exclusive about the brands” that remain there.

Since the beginning of the pandemic, major tenants like Gap, Macy’s, Uniqlo and Timberland have left empty spaces along the Mag Mile.

The vacancy rate on the strip rose to almost 29 percent this summer, up from the 15 percent vacancy before the global health crisis. The soon-to-be-vacant Banana Republic store spans 39,000 square feet across four floors.

If you read the entire article, there is no mention of the "R" word. Or the huge increase in crime in Chicago since 2019.