SEATTLE, Oct. 9, 2012 /PRNewswire/ -- Seattle-based Nordstrom, Inc., (NYSE: JWN) announced today plans to open a new Nordstrom Rack in Chicago's Lincoln Park neighborhood. The approximately 40,000 square-foot, two-level store is scheduled to open spring 2014 at Collection Anex, a new retail development.
Collection Anex will be conveniently located along the North Avenue corridor. The new Nordstrom Rack will be across the street from Whole Foods and adjacent to The North Avenue Collection anchored by Banana Republic, J.Crew and Victoria's Secret. Collection Anex and North Avenue Collection are both developments of Centrum Partners LLC.
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., carrying on-trend merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original Nordstrom prices. Nordstrom Rack also offers a wide selection of apparel, accessories and shoes from many of the brands carried in Nordstrom stores. These items are purchased specially for Nordstrom Rack, with most at savings of 30 to 70 percent off.
Nordstrom operates four full-line stores in the greater Chicago area including the downtown flagship store on Michigan Avenue. The new Lincoln Park Rack will be the retailer's third off-price location in downtown Chicago, located just a few miles from the Chicago Avenue and State Street stores. "We're fortunate to have the opportunity to bring another Nordstrom Rack to downtown Chicago and hope this new store will make it more convenient for our Lincoln Park customers to shop both our full-line and Rack locations," said Geevy Thomas, president of Nordstrom Rack.About Centrum Partners Centrum has established itself as one of America's premier real estate developers since it was founded in 1980. Centrum focuses on urban residential and commercial developments. Centrum's philosophy and approach to real estate development are defined by quality, performance and service.