Vacancy rates on the Magnificent Mile have fallen from pandemic-era highs as new retailers, attractions and investments continue to fill storefronts along North Michigan Avenue, according to data analyzed by the I-Team and industry reports.
Empty storefronts have been a persistent challenge for downtown Chicago in recent years, with politicians and real estate experts attributing the problem to the pandemic, oversized retail spaces in an increasingly online marketplace, high property taxes and, according to some, crime concerns…