Aug. 12--Apple has its eye on a new spot on the Magnificent Mile.
The Cupertino, Calif., company, which now has a store at 679 N. Michigan Ave., is set to move to the edge of the Chicago River, according to anonymous sources cited by Crain's Real Estate Daily. The publication said the location at 401 N. Michigan, adjacent to Tribune Tower, will be constructed mostly underground.
It's likely a new glass structure in Pioneer Court will serve as the entrance, Crain's said, much like the flagship Apple store on Fifth Avenue in New York City. The store would likely connect to an existing retail tunnel at 401 N. Michigan, Crain's said.
The move, seen as a huge leap forward for development in the lower section of the Magnificent Mile, has ben rumored for nearly a year. An Apple spokesman declined to comment.
