This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

CHICAGO — Macy’s is closing its flagship store at Water Tower Place on the Magnificent Mile, after 45 years as either Macy’s or Marshall Field’s.

The location with kick off a clearance sale this month that will run for about two or three months.

Regular non-seasonal employees who did not land jobs at other Macy’s stores will be eligible for severance, including outplacement resources.

The store has been an anchor for Water Tower Place since it opened in 1975 when it was known as Marshall Field’s.

Read more: Latest Chicago news headlines