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The Gap Set To Close Magnificent Mile Store

CHICAGO (CBS) -- The Gap will be leaving a big hole in the Magnificent Mile as it announces it plans to close in January.

Signs are already up on the doors.

The three-story, 46,000 square-foot building at 555 N. Michigan Ave. has been home to The Gap since 2000, though The Gap had a presence on the Mag Mile going years before that.

Back in October, The Gap announced it was closing 350 Gap and Banana Republic stores as part of a restricting plan.

There is still a Banana Republic store at 744 N. Michigan Ave., which took over the space once occupied by the Evans Inc. furrier in 1990.

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