REAL ESTATE

Fashion Outlets of Chicago gets green light to expand

BY Al Urbanski

Macerich will soon be contacting potential retail tenants to fill an additional 225,000 sq. ft. of space proposed for the Fashion Outlets of Chicago in Rosemont. The new GLA would increase the size of the center by 50%.

Officials of the town near O’Hare Airport approved the expansion, which would entail demolishing the Rosemont Theatre, a 4,200-seat venue that was hailed as a “first-rate arts center” by the Chicago Tribune when it opened in 1995, featuring Barry Manilow on opening night.

“They have the green light,” Rosemont Mayor Brad Stephens told the Tribune. “They have to give us a year’s notice before they start construction so we can wind down the theater. We’ve got certain salvage rights to property inside the theater before it gets demolished.”

Stephens added that the redevelopment agreement with Rosemont was essentially a “glorified letter of intent” allowing Macerich to gauge interest from prospective new tenants.

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