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Read the press release here.

Madewell to Open First Chicago Location Next Week

GOLD COAST — Future fashion hotspot, ahoy!

Madewell will open its first Chicago location next week, a year after J. Crew CEO Mickey Drexler announced that the company's nautically-tinged offshoot brand would nearly triple its retail square footage nationally.

The new shop at 932 N. Rush St. joins existing sites in Oak Brook and Skokie, but is the first within city limits, and the brand's 49th location.

Madewell was founded in 1937 as a denim workwear label, and vestiges of those intentions remain in the current, higher-fashion iteration of the brand.

While the styles may still be similar, the prices have certainly gone up in the last 70 years — a pair of jeans from the Madwell line or other brands the store carries will set you back anywhere from $100 to $500.

So the store will be right at home near high-end neighbors Lululemon and Barneys New York.

Madewell Chicago will open for the first time Wednesday, and the first 150 shoppers will get a gift card valued between $10 and $500 when they walk in the door.

The store will be open from 10 a.m. to 8 p.m. Mondays through Saturdays, and from 11 a.m. to 6 p.m. Sundays.