Eddie Bauer Bankruptcy Likely to Further Increase the Magnificient Mile’s Already High Vacancy Rate

sudler-sothebys-logo23 June 2009 – Eddie Bauer joins Circuit City, Linens ‘N Things, Mervyns and other retail chains that have filed for bankruptcy court protection as consumer spending has fallen and the recession continues. Last Wednesday, Eddie Bauer, best known for it’s outdoor clothing line filed for Chapter 11 bankruptcy. Eddie Bauer considered a reorganization, sale, or liquidation through Chapter 11 bankruptcy protection as it continued operations under a modified business plan. However, it now hopes simply to be sold. This is yet another sign of the continued recession and that the economy has likely not hit bottom. No one knows what will happen to Eddie Bauer‘s prime real estate location on the Magnificent Mile. According to CB Richard Ellis Inc. data reported by Crain’s, the toney shopping street was already suffering from its highest vacancy rate in the past ten years of 7.2%.

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

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