In recent years, the guys from Cupertino have changed their strategy when it comes to opening new stores around the world. Instead of continuing to open new stores where it already has a presence, is opening flagship storess and unique and impressive locations, although renting them costs an arm and a leg.
One of the flagship stores that the Cupertino-based company has recently opened is the Chicago Apple Store, dubbed the Magnificent Mile. Since its opening, it has suffered a number of problems with both leaks as with birds crashing against their windows. Today we talk about something else: the rental price.
The Apple Store in Chicago, whose upper part reminds us of a MacBook, has an annual cost to Apple's coffers of $ 2,5 million, a price that in the next 5 years will increase by 10%.
Despite that the cost of this store has been quite high, about $ 80 million, Apple does not own the property. This space, which, depending on its location, one might think that it belongs to the city council, turns out not to be the case. Walton Street Capital is the owner of the Chicago Apple Store, a property it bought 18 months ago for $ 360 million along with other properties in the city.
With more than 500 Apple Stores spread around the world, depending on the location of each one, we can get an idea of the annual cost for Apple to rent the spaces where they are locatedEspecially when it comes to historic or iconic buildings, a location that seems to be a preference for Apple when opening new stores around the world.
