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Property Sales Are Rare on Chicago’s Mag Mile Shopping Strip. Here’s a Look at the Past Decade.

Recent $94 Million Neiman Marcus Flagship Deal Is Just Michigan Avenue's Second Retail Building Sold Since 2016

The Magnificent Mile is known for shopping and the Chicago Water Tower, which survived the Great Chicago Fire in 1871. (Robert Gigliotti/CoStar)
The Magnificent Mile is known for shopping and the Chicago Water Tower, which survived the Great Chicago Fire in 1871. (Robert Gigliotti/CoStar)

On Chicago’s Magnificent Mile, shoppers can browse a range of products, including jeans, novelty candy, luxury handbags and the newest iPhone. What’s rarely sold are the buildings that line Chicago’s best-known retail avenue, a roughly 1-mile stretch of North Michigan Avenue from the Chicago River north to Oak Street.

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