AURORA, Ill., July 16, 2014 /PRNewswire/ -- Simon, a
global leader in retail real estate, today broke ground on a
50-store expansion of Chicago Premium Outlets®. The
multi-million dollar project will expand one of the country's most
successful outlet centers by almost two-thirds, for a future total
of more than 170 stores delivering great brands at value prices to
Chicagoland shoppers and visitors.
Among the new retailers slated to open in late spring 2015 will
be Saks Fifth Avenue Off 5th, which will join the
center's current list of designer and name brands, including
Adidas, Coach, Gap Outlet, Kate Spade New York, Levi's, Michael
Kors, Polo Ralph Lauren, Theory, Vera
Bradley and many more. Also announced were anticipated
third-quarter 2014 openings of ASICS Outlet, The Disney Store,
Hartmann Luggage, Loft Outlet and Tumi within the existing
center.
Expansion plans also include unique features for a welcoming and
dynamic environment, such as fire pits, art installations, a pond,
and the addition of approximately 1,900 parking spaces. The new
stores will occupy 45 acres on a vacant industrial site just east
of the current Chicago Premium Outlets at Farnsworth Avenue and
Bilter Road.
Simon also announced a complete renovation to the existing
center, which serves as the anchor for value shopping in the
Chicago region. Enhanced
landscaping and newly paved sidewalks, upgraded seating and lounge
areas, improved lighting, a fresh new paint color scheme, and
updates to the center's food offerings are all planned. The project
will also include additional investment in the adjacent wetlands
initiative.
"For ten years, Chicago Premium Outlets has been a premier
shopping destination in the Midwest," said Aurora Mayor Tom
Weisner. "Aurora is proud
to be the home of Chicago Premium Outlets and we are excited to
break ground on the largest retail expansion of a Chicago-area shopping center in nearly 20
years. This expansion will bring more jobs to our community during
and after the construction process, additional viable and
attractive shopping options, and a stronger anchor for increased
economic development in the immediate area and throughout the
City of Aurora."
"We are grateful to Mayor Weisner for his foresight and
continued commitment to spearheading positive development within
the City of Aurora," said
Mark Silvestri, Chief Operating
Officer for Simon Premium Outlets. "The expansion of Chicago
Premium Outlets represents one of the largest expansions that Simon
has planned to date. It will further elevate this highly-regarded
center with an impressive new collection of designer stores at
great savings that will draw regional and international
shoppers."
The project will provide considerable positive economic impact
to the area. In addition to providing approximately 300
construction jobs, an estimated 500 full- and part-time workers
will be employed by Chicago Premium Outlets' new stores.
About Chicago Premium Outlets
Chicago Premium
Outlets, a Simon center located 38 miles west of downtown
Chicago off of Interstate 88 at
the Farnsworth Avenue North exit in Aurora, Illinois is Chicago's top destination for fashion and
popular brands including Adidas, Coach, Gap Outlet, Kate Spade New
York, Levi's, Michael Kors, Polo Ralph Lauren, Theory and
Vera Bradley, offering everyday
savings of 25 to 65 percent. For additional information about
Chicago Premium Outlets and for expansion project updates, visit
premiumoutlets.com/chicago, like Chicago Premium Outlets on
Facebook at facebook.com/chicagopremiumoutlets and follow Chicago
Premium Outlets on Twitter at twitter.com/ChiPremOutlets
About Simon
Simon is a global leader in retail real estate ownership,
management and development and a S&P100 company (Simon Property
Group, NYSE: SPG). Our industry-leading retail properties and
investments across North America,
Europe and Asia provide shopping experiences for millions
of consumers every day and generate billions in annual retail
sales. For more information, visit simon.com.
Simon has a global portfolio of 81 Premium Outlets®
centers located in the United
States, Puerto Rico,
Canada, Japan, Malaysia, Mexico and South
Korea, representing some of the most iconic and productive
shopping destinations for residents and travelers including
Woodbury Common Premium Outlets (near New
York City), Orlando Premium Outlets, Desert Hills Premium
Outlets (Palm Springs,
California), Las Vegas Premium Outlets and Wrentham Village
Premium Outlets (Boston). More
information is available at premiumoutlets.com.
SOURCE Simon