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Banana Republic on Chicago's Mag Mile plans to close

By FOX 32 News

Published October 12, 2022 5:41pm CDT

Banana Republic on Chicago's Mag Mile plans to close

Another major retailer is saying goodbye to Chicago's Magnificent Mile.

CHICAGO - Another major retailer is saying goodbye to Chicago's Magnificent Mile.

Banana Republic plans to close its Michigan Avenue store.

The lease expires sometime next year.

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Gap and Macy’s are some of the other big-name stores that have closed their doors on the Mag Mile.

Crain's Chicago Business reports the vacancy rate along the Mag Mile jumped to 29-percent this summer.