The Magnificent Mile, sometimes referred to as The Mag Mile, is an upscale section of Chicago's Michigan Avenue, running from the Chicago River to Oak Street in the Near North Side. The district is located adjacent to downtown, and one block east of Rush Street. The Magnificent Mile serves as the main thoroughfare between Chicago's Loop business district and its Gold Coast. It is generally the western boundary of the Streeterville neighborhood, to its east and River North to the west.
Real estate developer Arthur Rubloff of Rubloff Company gave the district its nickname in the 1940s. Currently Chicago's largest shopping district, various mid-range and high-end shops line this section of the street; approximately 3.1 million square feet are occupied by retail, restaurants, museums and hotels. To date, rent on The Magnificent Mile is the eighth most expensive in the United States, behind Fifth Avenue in New York and Rodeo Drive in Beverly Hills.
There are many tall buildings, such as 875 North Michigan Avenue, in the district. Landmarks along the Magnificent Mile include Wrigley Building, Tribune Tower, the Chicago Water Tower, and the Allerton, Drake and Intercontinental Hotels.