How Chicago-Area Malls Are Evolving to Stay Relevant

As the retail landscape continues to shift, Chicago’s shopping malls are evolving to stay relevant in an increasingly omnichannel world. McMillanDoolittle Director Amanda Lai joined NPR’s Chicago affiliate, WBEZ, on Reset with Sasha-Ann Simons for a recent segment exploring why some Chicago shopping centers are thriving while others are struggling to drive foot traffic. The panel also featured Rachel Herzog, commercial real estate reporter at Crain’s Chicago Business; Serge Khalimsky, Senior General Manager of Oakbrook Center; and Reset senior producer Meha Ahmad.

The radio segment spotlighted how consumer expectations around the shopping experience have changed, and what it takes for malls to maintain their relevance, especially as e-commerce, experiential retail, and shifts in work and lifestyle patterns continue to reshape foot traffic and spending behavior.

Lai shared that the malls winning with today’s consumers, like Oakbrook Center in Oak Brook, IL, have evolved beyond being just retail destinations. They’ve embraced entertainment, dining, and health and wellness services to become modern-day “third places” where people, especially Gen Z and Gen Alpha, gather, socialize, and spend time. These experiential elements have helped them stand out in a crowded market and drive repeat visits, even amid broader industry headwinds. In contrast, traditional vertical indoor malls like Water Tower Place on Chicago’s Magnificent Mile have struggled to keep pace with changing consumer expectations. While some centers have refreshed their tenant mix in an effort to stay relevant, the difference between lagging and leading malls often lies in their ability to evolve beyond retail. Successful locations have transformed into destinations that capture not only a greater share of consumer spending, but also a greater share of consumers’ time and attention.

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The segment underscored a broader theme: Consumers are working, shopping, and socializing closer to home, boosting traffic to walkable urban corridors like Chicago’s Armitage and Southport shopping streets, as well as to suburban lifestyle centers like Oakbrook Center. The malls that thrive are the ones that give people a reason to linger, not just shop. When shopping is just a click away, malls succeed by offering what e-commerce can’t—a place to connect, explore, and make lasting memories.

Listen to the full segment on WBEZ.org, Spotify, or Apple Podcasts. Looking to bring a retail expert to your next panel, conference or strategy session? Contact us to learn how McMillanDoolittle can bring customized insights and thought leadership to your organization.