By  on July 2, 2008

With just two locations in the U.S., it's rare when Paul Stuart, the 70-year-old retailer of classic men's and women's wear, makes a real estate move.

But on Tuesday, the company said it will relocate its Chicago store to 107 East Oak Street in early fall. Construction has already begun on the three-level building, known as "The Townhouse."

For more than a decade, Paul Stuart was located in the John Hancock Center on Michigan Avenue. That store closed on June 15 when the lease expired.

"We are extremely happy with our new location in Chicago," said Cliff Grodd, Paul Stuart's chief executive officer. "It is perfect for Paul Stuart, a neighborhood that is steeped in tradition, but at the same time is experiencing an exciting and energizing resurgence."

Though the company is temporarily without a store in Chicago, merchandise is available through the Web site. There is also a Paul Stuart store in New York at 45th Street and Madison Avenue, three freestanding stores in Japan, and over 40 shops in department stores in Japan and South Korea.

Founded in 1938, Paul Stuart designs an exclusive collection of men's and women's tailored clothing, sportswear and accessories. In 2007, the company launched Phineas Cole, a subbrand aimed at a younger and more fashion-driven clientele.

No further details of the new Chicago site were available, other than that men's wear will still represent the majority of the offering.

In women's for spring, prices generally range from a few hundred to a few thousand dollars per item, including silk charmeuse blouses, priced $247; wool trousers, $647; stretch cotton twill toggle coats, $1,997, and a cashmere-silk trenchcoat for $2,097.

In men's tailoring, suits range from about $1,100 to $2,000, while blazers are typically $800 to $900.

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