News
Apple has set aside $62 million for its future Apple Store, located on North Michigan Avenue in Chicago, but no dates for the store
November 1, 2016 • Source: http://www.thecountrycaller.com/ • Posted in: Market News
A construction permit issued by Chicago’s city planning department reveals that Apple Inc.’s (NASDAQ:AAPL) budget for its future store is $62 million. According to Apple Insider, the company hopes that its future retail outlet will outshine other Apple Stores in terms of design and architecture, including the company’s Union Square flagship store in San Francisco, which cost the iPhone-maker approximately $23.6 million.
Located on North Michigan Avenue shopping district along the Chicago River, we believe that the company’s outlet will prove to be one of Apple’s most grand retail stores to date. Former speculation suggests that the store will be designed by Norman Foster of Foster + Partners architects. Apple has not confirmed this news as yet.It seems that Apple began its work on the future Apple outlet some time ago, after the store’s architectural renderings surfaced earlier in November. Now, Chicago’s city officials have officially given Apple a green light to finalize the completion process for its future store. The tech giant has also set aside $375 separately for the store’s permit fee.
However, the company’s efforts to improve the design for all its stores became evident under the leadership of retail chief, Angela Ahrendts, and Jony Ive. Under their supervision, Apple’s attempts to maintain a sense of architectural hierarchy in its stores has resulted in the emergence of more architecturally-pleasing stores around China and the US since last year.
It seems that a typical 20,000 sqft store will comprise of some of Apple’s basic elements, such as the Genius Bar, a carbon fiber roof, ample walking and shelving spaces, and glass walls at plaza level. Since the company has paid utmost attention to incorporate environmental friendly components for construction and operation of its other stores, there are increased chances that the Chicago store will continue to ramp up on these elements as it nears to completion.