Experiences fuel Chicago retail comeback on the Mag Mile and beyond
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Cozey pop-up in the Gold Coast. Photo: Courtesy of Cozey
Major retail corridors like Chicago's Michigan Avenue are moving out of survival mode and into thriving.
Why it matters: The Mag Mile, Fulton Market and other neighborhood corridors are seen as indicators of broader economic trends, and the picture for Chicago is bright right now.
State of play: As return-to-office numbers still lag behind pre-pandemic levels, retailers downtown feel the pinch on weekdays between 8am and 4pm, Placer reports.
Yes, but: Shoppers are making up for some of that slowdown on weekends.
- Compared with the same point in 2019, Friday night visits were up 2% and Saturday evening visits increased 0.7%.
State of play: That upward trend indicates that people are looking for destinations that offer more than shopping. They want dining, experiences and events, too.
- That lines up with the uptick in foot traffic in Fulton Market and Oak Street retail corridors, which saw a 4% increase from 2024-2025, and the Mag Mile, which bumped up by 0.5%, according to JLL.
- Visits to malls — a more suburban experience — were down last year, JLL reported, but places like Oakbrook, Old Orchard and Rosemont are trying to combat that with free live music, morning workouts, new restaurants and hotels this summer.
What they're saying: "Fitness studios generate daily visits. Entertainment concepts draw evenings and weekends. When you combine that with the right food and beverage mix, you extend dwell time and give consumers a reason to make the trip even if they don't need to buy anything," JLL's Midwest Retail Lead Walter Wahlfeldt tells Axios.
- The malls seeing foot traffic hold steady or bounce back are largely the ones that made those bets early."
Between the lines: Experiences continue to drive tourists and residents to the Mag Mile, with the Harry Potter store, The Hand and the Eye and The Cube, which opened last week at 600 N. Michigan Ave.
- The F1 Arcade is expected to open in the old Rock Bottom space next month.
- Fulton Market and Southport Corridor attract shoppers who are also looking for a nice place to eat or just roam around.
More openings
Here's what else is new on the Mag Mile and beyond:
👔 Brooks Brothers menswear opened at the 900 North Michigan Shops.
🛋️ Cozey, a Canadian furniture brand, set up a pop-up on Delaware and Rush in the old Tesla salesroom until March 31, 2027.
👜 Hammitt handbags opened its first Chicago store at 838 W. Armitage Ave. last month.
🤳🏻 Live Launch, a modern mall concept selling digital-native brands, is now open in the West Loop and includes the Chicago Sky's first standalone apparel shop.
👟 Every Now and Then, Joe Freshgoods' store and creative space, soft-opened in West Town last weekend with the release of the designer's collab with New Balance called 992 Westbound.
💲Savers thrift shop opened its first store in the city last month at 2928 N. Ashland Ave. in Lakeview.
🐒 Teso Life, known as the "Asian Target," added a second Illinois location last weekend with a new store in Naperville. The chain plans to open another store in Rolling Meadows, according to its Website.
👕 Johnnie-O, which sells golf shirts and other casual clothes, is opening at Wilmette's Plaza del Lago on Aug. 1.
- The North Shore luxury mall continues to add tenants, including Oscar de la Renta, Space 519, Veronica Beard, Peter Millar and Dôen, the brand's first in the Midwest, which plans to open in the fall.