CHICAGO, IL / ACCESS Newswire / August 6, 2026 / The Shops at North Bridge today announced a transformative multi-million dollar reinvestment that will reposition the iconic Michigan Avenue property as a premier, experience-driven destination at the gateway to Chicago’s Magnificent Mile.

The multi-phase restoration will introduce a dramatic new street presence, hospitality-inspired interiors, and a reimagined mix of retail and dining designed to strengthen the property’s role within one of the country’s most recognized urban high-street retail corridors.

Construction is scheduled to begin this August 2026, with retailers remaining open throughout the phased redevelopment process.

Anchoring The Magnificent Mile, The Shops at North Bridge occupies one of downtown Chicago’s most prominent retail addresses. The reinvestment reflects growing demand from both consumers and brands for immersive environments that blend shopping, dining, entertainment, and social engagement into a more dynamic urban experience.

“At The Shops at North Bridge, we’re investing in the future of experiential urban retail and the continued evolution of Michigan Avenue as a global destination,” said Deb Mattes, Senior General Manager with Centennial, the management company for The Shops at North Bridge. “Today’s consumers are seeking places that feel vibrant, social, and engaging. This redevelopment is designed to create a stronger sense of arrival, encourage visitors to spend more time within the property, and deliver an experience that reflects the energy and international appeal of Chicago.”

A New Vision for Michigan Avenue

At the center of the project is a dramatic transformation of the property’s Michigan Avenue entrance designed by ParkFowler Plus. A new glass façade will feature a large-format, backlit LED archway display, creating a highly visible digital art installation along the corridor.

The redesigned entrance will emphasize transparency, verticality, and stronger visual connectivity between Michigan Avenue and the interior retail environment. Updated tenant signage and architectural enhancements will further elevate the property’s street presence, while Nordstrom’s flagship location will remain a central component of the design.

The property’s secondary entrance at Grand Avenue and Rush Street will also undergo significant upgrades, including an additional digital display, enhanced lighting, modernized finishes, improved wayfinding, and a more visible tenant directory to create a more intuitive and welcoming arrival experience.

Inside, the property’s central atrium will be transformed into a hospitality-driven gathering space anchored by a dramatic suspended sculptural installation and a future bar and lounge concept designed to encourage visitors to gather and linger within the center.

Additional interior improvements will include upgraded lighting, new signage and wayfinding, modernized digital directories, new flooring and finishes, and enhanced sightlines throughout the property.

Reimagined Retail and Dining

As part of the broader repositioning efforts, the new merchandising strategy will focus on attracting experiential retailers, flagship concepts, emerging brands, and entertainment-driven uses that align with shifting consumer expectations and the continued evolution of urban retail.

“As brands continue prioritizing highly visible, experience-oriented environments, flagship opportunities along globally recognized corridors like Michigan Avenue remain incredibly valuable,” said Luke Molloy, Senior Vice President at CBRE, the leasing team behind the project. “The Shops at North Bridge first emerged as one of The Magnificent Mile’s premier retail destinations, and the fundamentals that originally drove its success remain firmly in place. The property sits at one of the most prominent intersections on North Michigan Avenue, benefiting from exceptional foot traffic and a day-time population density not found anywhere else in Chicago. It is anchored by the top-performing Nordstrom, and ownership is financially committed to curating a best-in-class tenant mix. The Shops at North Bridge is poised to become one of the greatest comeback stories in Chicago retail history.”

The investment reflects continued confidence in the long-term strength of downtown Chicago and the enduring global relevance of The Magnificent Mile as a destination for shopping, dining, tourism, and culture.

“The success of this project is directly connected to the continued success of The Magnificent Mile and downtown Chicago,” said Amy Preston, Managing Principal at Preston Design & Construction Consulting. “This redevelopment represents a long-term investment in the future of the corridor – creating new energy, attracting new audiences, and contributing to the continued momentum of one of the world’s most iconic retail destinations.”

Redevelopment Timeline

Construction will begin in August 2026 with interior renovations, followed by the transformation of the Michigan Avenue façade and enhancements to the Grand Avenue and Rush Street entrance. Completion of the exterior façade is anticipated in 2027.

The redevelopment team includes:

  • Architect: ParkFowler Plus

  • Owner’s Representative: Preston Design & Construction Consulting

  • Leasing: CBRE

  • Property Management: Centennial

  • General Contractor: Bulley & Andrews

  • Ownership: Pacific Life

Additional details will be announced as the project advances through future planning and construction milestones.

About The Shops at North Bridge

The Shops at North Bridge, located in the heart of the Michigan Avenue retail corridor, is an iconic shopping district and destination for world-class retail and dining experiences. Sprawling six city blocks and anchored by a four-level shopping center, The Shops at North Bridge features some of the city’s most iconic brands, including Nordstrom, Eataly and Joe’s Seafood, Prime Steak & Stone Crab. Learn more at theshopsatnorthbridge.com.

About Preston Design & Construction Consulting

Preston Design & Construction Consulting is a leading development advisory, project management, and owner’s representation firm for first-class core and shell development, redevelopment, and interior spaces. We hold ourselves to the highest standards and bring a guiding principle of commitment and excellence to every partnership. Led by Amy Preston and supported by our team of project managers and contracted partners, our success is based on delivering comprehensive design and construction solutions that match your schedule and budget.

At its core, real estate is about much more than physical buildings. It’s about the people who inhabit them and creating a special experience that positively impacts the work/life environment for everyone involved. That’s the true value of what we do.

About ParkFowler Plus

ParkFowler Plus is an award-winning, Chicago-based multidisciplinary design studio offering architecture, interiors, and urban design services across a global portfolio of work. A certified woman-owned and minority business enterprise, the firm is led by Jen Park, AIA and Brad Fowler, AIA, who bring decades of combined experience to complex design challenges across civic, cultural, commercial, and residential projects. Driven by design that is as imaginative as it is purposeful, ParkFowler Plus works alongside clients who are as committed to good architecture as they are – delivering solutions that are both formally rigorous and deeply responsive to place and community. That conviction, along with the creativity and urban sensibility that Jen and Brad bring to every collaboration, defines the ParkFowler Plus approach from concept through completion.

About Centennial, powered by Lincoln

Centennial, powered by Lincoln (“Centennial”), is a national retail real estate owner and operator overseeing more than 25 million square feet of retail and mixed-use destinations across 18 states. In addition to investing in and operating its own portfolio, the company provides a full-service property management and advisory platform serving institutional and private owners nationwide.

As part of Lincoln Property Company, one of the nation’s largest privately held real estate firms, Centennial operates as a purpose-built retail platform – combining institutional capital strength, national scale, and Lincoln’s fully integrated real estate capabilities with Centennial’s specialized merchandising, leasing, and operations expertise. For more information, visit: www.CentennialREC.com

About Pacific Life

Pacific Life provides a variety of products and services designed to help individuals and businesses in the retail, institutional, workforce benefits, and reinsurance markets achieve financial security. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative life insurance and annuity solutions, as well as mutual funds, that provide value and financial security for current and future generations. Supporting our policyholders for nearly 160 years, Pacific Life is a Fortune 500 company headquartered in Newport Beach, California. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

Media Contact

Kate Terricciano
860.919.1020
Kate@imagemarketingconsultants.com

SOURCE: Centennial Real Estate

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