North Michigan Avenue TAP
In partnership with the City of Chicago Department of Planning and Development and The Magnificent Mile Association, ULI Chicago convened a multi-disciplinary panel of real estate development experts to develop recommendations for redevelopment of two key locations in the City of Chicago’s downtown: The Magnificent Mile’s distinct identity and enhance its draw as a premier retail, entertainment, and tourism destination. ULI Chicago Technical Assistance Panel (TAP) members interviewed over 60 stakeholders and worked collaboratively over two days to develop their recommendations.
“Preserving The Magnificent Mile’s place as a global destination is critical to the economic health and tax base of the City of Chicago,” said Alicia M. Berg, ULI Chicago Panel Chair and Assistant Vice President for Campus Planning + Sustainability, University of Chicago. “To that end, we’ve assembled a diverse group of leading real estate and planning professionals from across the city to offer their recommendations to ensure The Mile’s sustainability and vibrancy for years to come. ULI Chicago is excited to present both near-term and longer-term actions to help reenergize North Michigan Avenue,” she added.
“The central area is an economic driver for the entire region and it’s imperative that we proactively look at the future of streets like North Michigan Avenue,” Chicago Department of Planning and Development Commissioner Maurice Cox said. “Planning staff is closely engaged in this process and we look forward to reviewing and considering how to implement the panel’s recommendations.”
“With nearly 1/5th of the total jobs in Chicago, some of the state’s top tourist attractions, and a population equivalent to the 9th largest city in Illinois, The Magnificent Mile district is truly an economic engine for Chicago and Illinois,” said Kimberly Bares, President & CEO of The Magnificent Mile Association. “We were honored to participate in the ULI TAP process and now look forward to working with the City and other partners to implement the TAP recommendations and build a vibrant, exciting future for North Michigan Avenue that welcomes all Chicagoans and visitors.”
North Michigan Avenue TAP Key Information:
- Watch the North Michigan Avenue TAP Public Presentation
- Learn More about the Panel’s Scope of Work & the TAP Panelists
- North Michigan Avenue TAP Report
In the News: North Michigan Avenue TAP
- BISNOW | Experts Say The Magnificent Mile Got Boring and Needs a Reset
- Crain’s Chicago Business | Will These Ideas Fix the Mag Mile?
- Chicago Sun-Times | Ideas Emerge to Make the Magnificent Mile Less Frenetic and More Accessible
- Crain’s Chicago Business | Panel Hatches Ideas for Mag Mile’s Comeback
- WGN Chicago | Thefts, arrests, vacant store fronts: What can be done to save Chicago’s Mag Mile?
- WBBM NewsRadio | Plan Underway to Enhance Security and Enjoyable Experiences Among Mag Mile
- WGN Radio | Here Is How the Mag Mile Could Look Different in the Future
- The Real Deal | It’Sugar candy shop leases Mag Mile space vacated by Disney Store