The Walnut Room at Chicago Macy’s Could Be In Jeopardy
According to new reports, Macy's is wanting to downsize their Chicago flagship store, and the process is likely to involve converting the top floors into office space. Upon hearing this many are now wondering, what does this mean for the future of the building's iconic restaurant, The Walnut Room?
The Walnut Room at Macy's in Chicago is a hot spot for tourists and Chicagoans alike, especially during the holiday season. The elegant restaurant was the first restaurant to open in a department store, then Marshall Field's, and has been a staple in Chicago since 1907. Since many Chicago residents are still ticked about Macy's buying out and converting Marshall Field's stores, this news is not being well received.
According to Crain's Chicago Business, Macy's CFO Karen Hoguet has said that downsizing the Chicago store's presence is " one of our top priorities in 2017". The article also says that the downsizing of a Seattle Macy's store recently involved converting the top floors of the building to rentable office and retail space, and that this is the path that Macy's will likely go with Chicago store as well.
Crain's Chicago Business also reports that Andrea Schwartz, Macy's vice president of media relations for the North Central region, said this in an email regarding to the future of the Macy's chain:
Macy's is continuing to execute on our real estate strategy that is focused on creating value through monetization and, in some cases, redevelopment of our assets. We are not commenting on any specific property or opportunities we might be considering."
Hmmm. Only time will tell I guess, but I will say this; if their new "real estate strategy" involves the removal of The Walnut Room in Chicago, I will not set foot in that store again. Who's with me?