Overview
- MetLife Investment Management, which announced the plan Monday, will spend roughly $170 million to remake the 50‑year‑old vertical mall at 835 N. Michigan Ave.
- Retail will be concentrated on the first three floors, while floors four through eight will be marketed for office, medical, and other commercial uses.
- Designs call for moving the signature escalators to open more shop space, adding a new atrium and a ground‑floor pedestrian arcade, and creating restaurant space on the mezzanine.
- Design work is underway with construction slated to start in 2027 and finish in 2028, and the work will be phased so most current tenants can keep operating.
- The project team includes retail architect Neumann/Smith and general contractor Pepper Construction, and it comes as Michigan Avenue sees lower vacancy and new leases like Uniqlo and the Candy Hall of Fame.