CHICAGO (WLS) — Less shopping and more business.

That could be the future for the upper floors of Chicago’s iconic Water Tower Place.

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For years, both the Water Tower Place and North Michigan Avenue have been destinations for upscale shopping. Both have seen a decline in recent years, but that could be changing.

Tuesday was a special day for 9-year old Adriana Martinez as her aunts bring her down to the famous Water Tower Place to shop, just like they did when they were kids.

“We used to come to the Water Tower Place once a year to American Girl. It was just like a special time as a child, because we love Michigan Avenue,” said Cristal Reider.

But the fancy mall they remember could be a thing of the past, if the property’s owner moves forward with plans to revitalize the space by repurposing several floors of the Michigan Avenue space.

“I think it would make it a little less mall feeling decreasing the amount of floors you have and the stores you could actually go to,” said shopper Leah Broyles.

Supporters say it would be part of an effort to keep the iconic shopping mall from becoming another retail casualty by converting the upper floors into office and medical space while leaving the first three floors for retail.

The owners of Macy’s State Street did the same thing a few years ago.

“I still love to come and it’s nice to walk around and be in the city. I still very much enjoy it,” said Adela Del Real.

Water Tower Place first opened on the Magnificent Mile back in 1975.

As the was the first indoor mall in the city, it became an anchor for North Michigan Avenue shops.

But like retail most places, the mall took a hit following the COVID-19 pandemic, losing its food court and retail giant Macy’s.

Water Tower Place was bought by MetLife Investment Management in 2022.

Their spokesperson did not confirm the plan or any details, but, in an emailed statement, wrote, in part, “As any property owner does, we are exploring many different options for how we can optimize Water Tower Place as a destination, all of which include maintaining a significant retail presence on the Magnificent Mile.”

“I don’t think downtown Chicago’s ever going to die,” said shopper Treauna Scott. “Shopping downtown is pretty much the life down here. You’ve got to love it.”

Many hope a revival is on the way.

But with the economy still a little shaky, the future of Water Tower Place and North Michigan Avenue remains to be seen.