Target reportedly looking to replace Macy's at Water Tower Place along Michigan Avenue

CHICAGO (WLS) -- This historic section of Michigan Avenue north of the Chicago River has seen change over the years. This year has been no different.

Known as the Magnificent Mile, the retail district and tourist draw is losing, and has lost, some of the big name retailers during the pandemic.

WATCH: These big-name retailers are leaving Chicago's Mag Mile
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See some of the big name retailers who have announced they will leave Chicago's Magnificent Mile.

Now come reports that Target may be eyeing the space soon to be vacated by Macy's in Water Tower Place.

"Target has a great reputation as a company it's got a very strong balance sheet it's earnings were strong in 2020 and we would look forward to welcoming them or another similarly strong store in that space," said Kimberly Bares, The Magnificent Mile Association President.

Bares said other non-luxury stores add to the options on the avenue.

"As tourist and visitors come to shop they want to see products of different price points that gives them a full service district," said Bares.

"This is really a City of Chicago issue, I got dragged into it because I happen to live in the area," said Cook County Treasurer Maria Pappas.

Pappas said as a resident and private citizen, she is reaching out to Target's CEO and city officials as she and some of her neighbors don't want to see Target in that spot.

"Let's try and make things magnificent, I love Target but not in Water Tower," Pappas said.

As for Target, a spokesperson would only say they are continuing to evaluate locations but at this time there is no news to share about Chicago.
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