Best Buy Backs Out of Plans to Open Chicago Store
Best Buy has backed off plans to build a new store in one of America’s most well-traveled shopping districts. However, it may proceed with its plans only three blocks away.
According to Crain’s Chicago Business, the Minnesota-based CE giant was planning a 40,00 square-foot store in the Chicago Place mall at 700 N. Michigan Ave., in the shopping district known as the “Magnificent Mile.” Crain’s did not say why Best Buy made this decision, but did report that it is considering another property, at the corner of Chicago and Rush Streets. That location was formerly occupied by a CompUSA location, before the chain closed all five of its Chicago stores earlier this year.