The three-storey store has been located on Chicago’s ‘Magnificent Mile’ for the past two decades.
According to the company, the store will close its doors for the final time at the end of January, leaving a huge space to fill on Chicago’s most iconic shopping street. The move comes following the company’s announcement that they would close 220 Gap locations and 130 Banana Republic stores in North America, instead choosing to focus on their outlets and e-commerce operations.
Justine Jordan, a spokeswoman for Gap said: “As part of our company strategy to adapt to the changing needs of our customer and growth of our online business, we are looking thoughtfully at our real estate to support the best path forward. We remain committed to making appropriate and timely decisions on stores that don’t fit our vision for the future of Gap Inc.”
CBRE Brokers are already in talks with a number of tenants who could potentially fill the space once Gap closes.
