Office Depot Closing Store at Southgate Market

We all know the economy is bad and it looks like it's effected another big box retailer in the South Loop. According to the Chicago Sun-Times, Office Depot is closing their store at the Southgate Market Mall (1101 S. Canal). They are closing 15 stores throughout the Chicagoland area and 112 nationwide.

This is the second big tenant in this complex to close its doors (Linens-n-Things being the other). It's an interesting development considering, Best Buy and Bed, Bath and Beyond just opened huge new stores caddy corner from this complex.

Also of interest is the Roosevelt Collection which is said to have upwards of 1Million square feet of retail space. Although it's not open yet, it looks like it's on pace to open sometime next spring/summer.

There could be a lot of big retail vacancies on the market next year.