September 13, 2005
Crain’s Chicago Business
Men's Wearhouse to open State Street store
Retailer signed 10-year lease for 112 S. State St.
By Shruti Date Singh
Men's Wearhouse Inc. is moving to State Street.
Stone Real Estate Corp. of Chicago has signed a 10-year lease with the men's clothing retailer to open a 4,800-square-foot store at 112 S. State Street, said Joshua Levy, vice president for Stone Real Estate. The site has been vacant for almost a year but previously housed a Burger King and two other small retailers.
Men's Wearhouse had a location at Washington St. and Wabash Ave. from 1995 to earlier this year but moved to a temporary location in the Palmer House Hilton for the last few months. The new store will open on State Street by Feb. 2006, says Tom Jennings, senior vice president of real estate for Men's Wearhouse Inc.
Mr. Jennings says the Texas-based retailer, which sells tailored men's clothing, likes its downtown stores to be close to local businessmen. He says the State Street location puts it close to offices and new residential developments in the Loop.
“We believe this location on State Street will afford us more presence in the marketplace and increase our awareness and in the future will be more of a shopping area,” he says.
Men's Wearhouse has 22 stores in Illinois and one other Chicago location on Clybourn Ave.
Mr. Jennings says he expects sales at the new location to “significantly exceed our store average.”
Men's Wearhouse stores on average bring in more than $400 per square foot, he says. The Wabash and Washington location brought in less than the average, he said.
Mr. Levy says retailer's arrival on State Street is a sign that quality retailers are starting to come back to State Street.
“This is a place that's been plagued by low-quality retail. We are replacing a fast food restaurant, beeper store and wig shop with a quality apparel retailer,” Mr. Levy says. “Other retailers will follow suit.”
Men's Wearhouse will make improvements to the façade and storefront but will not tap city tax-increment finance district funding, Mr. Levy says.
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