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Brookfield Walks Away From Water Tower Place Mall on Chicago’s Magnificent Mile

Handover to Lender Is Second Example of Shopping Strip Owner Taking Big Loss in 2022
Brookfield Property Partners said it is walking away from its investment in the Water Tower Place vertical mall at 845 N. Michigan Ave. in Chicago. (CoStar)
Brookfield Property Partners said it is walking away from its investment in the Water Tower Place vertical mall at 845 N. Michigan Ave. in Chicago. (CoStar)

For the second time in 2022, a shopping center behemoth is walking away from its investment in a vertical mall on Chicago’s Magnificent Mile.

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