Thursday, May 2, 2019

Bank of America Expanding Space on South Michigan in the Sloop?

Looks like Bank of America is expanding on Michigan Avenue according to this article in Crains:
Most big banks are pruning their local branch networks, but Bank of America plans 11 new locations in the Chicago area over the coming year or so.
The Charlotte, N.C.-based giant, the nation’s second-largest bank by assets and third-largest in Chicago by deposits, is going against the industry’s grain as it pushes for more market share locally. Bank of America also plans to renovate nearly 60 of the 155 existing branches it has in the area, changing the format by placing bankers up front where customers enter.
Of the 11 new branches BofA plans, five are in Chicago and six are in the suburbs. In the city, Bank of America will open branches at 300 S. Wacker Drive and in its new local headquarters, under construction, at 110 N. Wacker Drive. Also in the works are branches in the South Loop at 1250 S. Michigan Ave. and near the Loyola bookstore by the Water Tower. And a new branch is coming on the city’s western border with southwest suburban Evergreen Park.

Bank of America already has a presence in 1250 S. Michigan as we wrote about in October of last year.  That being said, this article makes it seem like they're expanding.

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