Urban Outfitters (NASDAQ:URBN) is moving its Chicago home to a new location in May that will span three levels and 19,138 sq. ft., making it the largest of the brand's retail stores. The 1100 North State Street store, where the longtime Hunt Club nightclub was located, is part of the retailer's larger plan to expand physical store sizes.
The new development will contain a 7,000 sq. ft. high-end restaurant on the third floor, reported Women's Wear Daily. The restaurant opens later in 2015, but will not be affiliated with the retailer so is designed to include a separate entrance.
The relocation also signifies a move into North Chicago, beyond the Gold Coast barrier, where fashion retailers traditionally have not been comfortable crossing.
Currently Urban Outfitters is located at 935 North Rush Street, at Walton Street. Luke Molloy, a senior director at property management company Cushman & Molloy, said a new luxury brand would be moving into the space.
In September, Urban Outfitters announced its plans to open 25 to 50 Anthropologie stores in the next five years that will be three times larger than the typical 7,100 sq. ft. store. The company is also testing larger formats of its signature brand name and Free People chains.
The company has shown signs of financial progress but had a difficult year for sales. Still, the brand continues to expand on college campuses and Urban Outfitters opened a new concept store last spring in Brooklyn. Space Ninety 8 includes a marketplace for 40 local designers to feature goods.
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