By CBS 2 Chicago Staff

CHICAGO (CBS) — The Gap will be leaving a big hole in the Magnificent Mile as it announces it plans to close in January.

Signs are already up on the doors.

READ MORE: Chicago Weather: Weekend Warmup

The three-story, 46,000 square-foot building at 555 N. Michigan Ave. has been home to The Gap since 2000, though The Gap had a presence on the Mag Mile going years before that.

READ MORE: Northwestern Alums Create 'The Seeker,' A Highly Accurate Football Thrower They Call A Robotic QB

Back in October, The Gap announced it was closing 350 Gap and Banana Republic stores as part of a restricting plan.

There is still a Banana Republic store at 744 N. Michigan Ave., which took over the space once occupied by the Evans Inc. furrier in 1990.

MORE NEWS: Cariacature Artist, Substitute Teacher Says She Keeps Trying To Reach Illinois Unemployment Office -- Only To Have Calls Dropped

Also From CBS Chicago:

CBS 2 Chicago Staff