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Chicago’s fancy new Michigan Avenue Apple store will not cost $62 million after all

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The original building permit that put construction costs at $62,000,000 has been corrected

While the Apple store headed to Michigan Avenue’s riverfront Pioneer Court received its foundation permit in March and a construction crane in September, the recent issuance of a full building permit raised some eyebrows due to its jaw-dropping construction estimate of $62,000,000. Though the sleek, airy buildings designed by famed architect Sir Norman Foster are typically far from cheap, the number seemed extraordinary—yet somehow still believable—for a structure that will only rise one story above street level.

It turns out the construction estimate for the store and its grand waterfront staircase was indeed incorrect, prompting a revision. A newer permit now shows a more accurate construction cost of $26,953,000. While it’s unclear what exactly caused the mix-up, the issue could easily be as simple as an innocent typo flipping the number’s first two digits.

So far Apple has been mum on the project’s construction timeline. The company’s current flagship Chicago location a few blocks north at 679 N. Michigan Avenue is expected to close when the new 20,000-square-foot store at 401 N. Michigan opens at a date yet to be determined.