Set to open in 2013, the property at 3416 N. Southport Ave. will be home to a new Gap retail store, said Heather Way, executive director of the Lakeview Chamber of Commerce.
Construction on the building is already underway and is expected to be finished by late spring 2013, Way said. The store, which will be housed in a two-story, 10,000 square foot facility, is expected to be open to the public in late summer or early fall.
“The Gap is a very accessible brand,” she said. “For people with maybe a little less disposable income, it will provide something for them…There’s a lot of people fresh out of college who maybe need a more affordable option.”
Gap is not purchasing the property, Way said, but rather entering into a multi-year lease with the owner. According to Cook County property records, the owner of the land is Derrig 3416, a limited liability corporation.
The store will offer a full selection of Gap merchandise, which will help alleviate some of the retail needs along Southport Avenue, Way said.
“It’s a full Gap, with baby and kids [clothing],” Way said. “The fact that there will be a place to shop for children who are toddler-aged and above, that’s definitely a missing link for us here so it fills that gap, no pun intended.”
Way added that there may be more than two dozen jobs created as a result of the new store, but there is no guarantee.
“This is pure speculation, but based on what I’ve seen from other similarly sized retailers, maybe 20-25 [jobs created].”
This won’t be the first Gap-owned store in the area, though. Athleta already sits at 3415 N. Southport Ave., right across the street from the coming Gap.