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Chicago: A City in Freefall

Water Tower Place, an eight-story, 758,000 sq. ft. high-end shopping mall in downtown Chicago, is in the news.

Once one of the biggest and most exciting malls in the Midwest, it quietly leaked that the owners are interested in renting out the top five of its eight floors “for purposes other than retail.”

Not just wealthy shoppers, but even browsing tourists, too, it seems, are staying away in droves.

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