ChicagoismynewBlog

New Apple store to open at North/Clybourn/Halsted intersection.

Posted by ChicagoismynewBlog! on April 14, 2009


Apple picks North & Clybourn

By: Thomas A. Corfman April 13, 2009
In an apparent snub of State Street, Apple Inc. has picked the Clybourn Corridor for its next Chicago store.
The electronics maker last week agreed to open a signature store on a former gas station site bounded by North and Clybourn avenues and Halsted Street, sources say, after last year turning down a deal in the high-profile Block 37 development. The transaction signals the continued rise to retailing power of the crowded Clybourn thoroughfare and shows that State Street, despite its recent revival, continues to have a hard time attracting well-heeled shoppers.

“The Loop is playing to a slightly lower socio-economic group than North and Clybourn,” says developer Bill Smith, a principal in Chicago-based Smithfield Properties LLC. “Look at the demographics of Lincoln Park.”

Cupertino, Calif.-based Apple, which has been mulling over the North Avenue location for about 18 months, has signed a long-term lease, paying top-dollar annual rent of about $700,000 just for the land, sources say. Apple would build a roughly 15,000-square-foot store, designed by the San Francisco office of architectural firm Bohlin Cywinski Jackson, sources say. The firm designed Apple’s “glass cube” store on Fifth Avenue in Manhattan and its 25,000-square-foot outlet at 679 N. Michigan Ave., which opened in 2003. Spokeswomen for Apple and Bohlin decline to comment.

Block 37‘s developer, Chicago-based Joseph Freed & Associates LLC, also declines to comment.

– A big thank you to Crain’s Chicago Business for this article.  The article does go into further detail so if you would like to view the article in its entirety, click here.

apple-chicago

Apple's store in Chicago

apple-nyc

Apple's store in NYC

 

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