The Gap will soon close its three-story flagship store on the Magnificent Mile.
The clothing store will leave the property 555 N. Michigan Ave. early next year, according to reports from the Chicago Tribune and Crain’s Chicago Business.
The Gap has called the building — designed by legendary Chicago architect Stanley Tigerman — home since 2000.
While the Gap currently occupies the entire building, the space could be divided up among several future tenants. A broker told the Tribune that several companies are in talks to take over the space once the Gap leaves in 2021.
In October, the Gap’s parent company announced that it planned to close 220 stores by 2024, according to the Associated Press.
While the COVID-19 pandemic has made life harder for brick-and-mortar stores everywhere, dozens of high-end shops along and near the Magnificent Mile were targeted in two rounds of widespread looting earlier this year.
