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New businesses in the works to come downtown, CVS not moving into old Chicago Music Store building

Posted at 10:28 PM, Sep 18, 2017
and last updated 2017-09-19 01:28:58-04

A historic block with vacant buildings along Congress and 6th Ave in downtown are getting some attention from businesses wanting to move in. 

"That block is really going to be one of the more exciting focal points of downtown," said Ron Schwabe, the owner of Peach Properties. 

He says already 1055 Brewery and Loft Cinema have signed a lease to move into the block.

He explained that CVS pharmacy was in the final stages of negotiations to move into the old Chicago Music Store building but decided to change their real estate model and cancel it's expansion. 
He says Starbucks and other local businesses are interested in coming downtown. 

"I think it is going to be a world-class downtown," he said. "It's very authentic, it has got a lot of history, a tiny little area that is walkable and it's finally kind of hit that tipping point where everybody from residential office, retail want to be downtown."

In addition to businesses moving downtown, just a couple blocks away the new AC Hotel will have its grand opening Thursday.