The retail vacancy rate along the Magnificent Mile, a well-known shopping district in downtown Chicago, was 9.3 percent in the fourth quarter, according to CoStar data compiled by Cushman & Wakefield. That’s up from 5.9 percent a year earlier and nearly triple the 3.3 percent rate in the fourth quarter of 2019, before the onset of the coronavirus pandemic. The skyrocketing vacancy rate in the area compares to Chicago’s overall 9 percent rate, which actually has improved.

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