Chicago Tribune reports:
Macy’s is putting the historic Medinah Temple building in River North up for sale as the retailer continues cashing in on its valuable real estate portfolio.
Cincinnati-based Macy’s will market the landmark building at 600 N. Wabash Ave. to potential buyers, with plans to move the Bloomingdale’s home furnishings store out of the space, Macy’s spokeswoman Andrea Schwartz said.
The home store eventually will move to space within the existing Bloomingdale’s department store in the nearby 900 North Michigan Shops mall, Schwartz said. She declined to estimate when the store will move or how much the company expects to make in the property sale.
A buyer could redevelop the approximately 130,000-square-foot building into another use, such as offices or other types of retail.
The building is valuable because of its proximity to North Michigan Avenue, as well as its unusual architecture.
Plans to sell the building come 17 years after the former
(click here to continue reading Macy’s looks to sell Medinah Temple, move Bloomingdale’s store – Chicago Tribune.)