JPMorgan Chase will combine two existing downtown branches into one large location on Michigan Avenue next year, as reported by the Chicago Business Journal. The bank signed a lease for 11,800 square feet at 830 North Michigan Avenue, where clothing store Uniqlo used to operate before closing in 2021, according to the Business Journal. The new space will feature a regular bank branch covering 4,000 square feet on the ground floor and a financial service center taking up 7,000 square feet on the second floor.
This location will reportedly be the bank’s first Chicago spot for its Private Client division, which helps customers who have between $1 million and $5 million in assets. The third floor will include 800 square feet for staff rooms and other purposes. According to the same publication, the new branch should open by early fall, and it will replace two older branches that are scheduled to close in spring 2026.
Premium banking services for wealthy customers
The Chicago Tribune notes that this new banking center represents a fresh approach to serving customers with significant wealth. The second floor will feature the city’s first JP Morgan Financial Center. This program offers more than the existing Chase Private Client service, which targets customers with $150,000 to $1 million in net worth.
Read more on Chicago Star:…