Details are coming out about one of Macerich Co.'s first outlet development projects, in the Chicago suburb of Rosemont. The result of a partnership between Macerich and AWE Talisman, the enclosed property will contain 530,000 sq. ft. of space and feature luxury tenants, including Saks Fifth Avenue Off 5th, Last Call by Neiman Marcus, Bloomingdale's the Outlet Store, Barneys New York, Prada and Gucci, according to The New York Times. The project, which is scheduled to open this summer, is 90 percent leased.
Fashion Outlets of Chicago will be located 20 minutes away from downtown Chicago and just a few steps away from O'Hare International Airport. The developers, which estimate the project's cost at $250 million, received $50 million in grants and tax breaks from the Village of Rosemont.