SEATTLE, July 30, 2013 /PRNewswire/ -- Seattle-based Nordstrom, Inc. (NYSE: JWN) announced today plans to open a Nordstrom Rack at Shops at Orchard Place in Skokie, Ill. The approximately 36,000-square-foot store is scheduled to open in spring 2014. Shops at Orchard Place is owned and managed by Inland Real Estate Corporation (NYSE: IRC)
Nordstrom Rack is the off-price retail division of Nordstrom, Inc., offering customers a wide selection of on-trend apparel, accessories, and shoes at an everyday savings of 30-70% off regular prices. The Rack carries merchandise from Nordstrom stores and Nordstrom.com and specially purchased items from many of the top brands sold at Nordstrom. The Rack provides the ultimate treasure hunt to style-savvy customers.
Nordstrom has operated a full-line store in Skokie at Old Orchard Center since 1994 and a Rack in nearby Northbrook since 1996. The Shops at Orchard Place Rack will fill the location vacated by Best Buy across Skokie Boulevard from the Nordstrom full-line store at Old Orchard Center.
"Our best Rack stores are those closest to our full-line stores, and it doesn't get better than putting a Nordstrom Rack right across the street from Nordstrom Old Orchard," said Geevy Thomas, president of Nordstrom Rack. "Nordstrom has been serving Chicago's North Shore for nearly 20 years, and we are excited to get the chance to take care of our customers at this great new location."
Located at the northeast corner of Golf Road and Skokie Boulevard, Shops at Orchard Place is home to a mix of national and local tenants, including DSW, Ulta Beauty, Pier 1 Imports and Jared.
"Nordstrom Rack is a strong complement to our lineup of retailers at Shops at Orchard Place, and we are very pleased to welcome them to the center," said Scott Carr, chief investment officer of Inland Real Estate Corporation. "We believe Nordstrom Rack is a dynamic retail category for this center and will be a strong draw for shoppers."
Nordstrom first came to Chicagoland in 1991 with the opening of its full-line store at Oakbrook Center. Nordstrom currently operates four full-line stores and seven Nordstrom Racks in the area. In addition to the new Shops at Orchard Place Rack, the company has announced plans to open two more Chicago Rack locations in 2014: in the South Loop at The Maxwell and in Lincoln Park at Collection Anex.
About Shops at Orchard Place
Shops at Orchard Place, located at the northeast corner of Golf Road and Skokie Boulevard in Skokie, Ill., is a 159,000-square-foot shopping center that is home to a mix of national, local and specialty tenants including PetCo, DSW, Jared, Ulta Beauty, Pier 1 Imports and Party City. Positioned adjacent to the prestigious Old Orchard Shopping Center, Shops at Orchard Place is ideally located in a busy trade area.
About Inland Real Estate Corporation
Inland Real Estate Corporation is a self-administered and self-managed publicly traded real estate investment trust (REIT) that owns and operates open-air neighborhood, community and power shopping centers and single-tenant retail properties located primarily in the Central United States. As of March 31, 2012, the Company owned interests in 154 investment properties, including 48 owned through its unconsolidated joint ventures, with aggregate leasable space of approximately 15.3 million square feet. Additional information on Inland Real Estate Corporation is available at www.inlandrealestate.com. To connect with Inland Real Estate Corporation via LinkedIn, visit http://www.linkedin.com/company/inland-real-estate-corporation, or via Twitter at www.twitter.com/IRC_REIT.
Nordstrom, Inc. is one of the leading fashion specialty retailers based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 248 stores in 33 states, including 117 full-line stores, 127 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN.
Inland Real Estate Corporation
SOURCE Nordstrom, Inc.