January 09, 2017
Chicago's Apple Store originally would have cost $62 million to build. The 20,000-square foot building will be comprised of wood, steel and glass. The Union Square Apple Store in San Francisco is only one-third the amount to develop.
However, Apple recently filed the store's revised construction costs that brought the price down quite a bit lower. A week after it was announced it would cost $62 million to build, the current filings suggest it will only be $26.9 million based on the development company's filing.
The store is set to open in October 2017, moving away from the present 679 N. Michigan location. Zeller Realty Group, the owner of the property, made the new store announcement in November 2015. It's hoped the location will boost foot traffic for the adjacent shopping area stores.
Apple's new store is set to have a lot of glass, with some panels being seen from the Riverwalk. Construction has already been started, and chances are the more that's done on it, the more people are going to learn about it.
What's not known though is how the project's cost dropped $35.1 million in a week. Perhaps, Apple will shine a light on this soon.