Nike Signs 43,000-Sq-Ft Lease at Chicago's Shops at North Bridge, Exiting Larger Flagship

Nike signed a 43,000-square-foot lease for two floors at the Shops at North Bridge, 540 North Michigan Avenue in Chicago, vacating its larger Nike Town location at 663 North Michigan Avenue, the company announced on September 21, 2026. The space was previously occupied by Forever 21, which departed in 2018. Nike's prior lease totaled about 57,000 square feet. The deal coincides with a rebound in the Magnificent Mile retail corridor. The area's availability rate fell to 26.1% in July, down from a record 33.8% in 2023, according to Crain's. The southern third of the corridor recorded the lowest rate at 15.2%. Mall owner Pacific Life Insurance Company is investing $40 million to modernize the Shops at North Bridge, adding digital displays at all three entrances, a sculptural atrium installation and upgraded glass facades ahead of Nike's move-in.