Second City Gets Another Second Rate Publication

memo-pad-michigan-ave.jpgWhat is it about Chicago? Is there some reservoir of untapped wealth under Lake Michigan? Or maybe everyone in media are closet Cubs fans? Whatever the explanation, people are throwing money into ventures in the Windy City.

First, the Huffington Post announced it would launch its first spin-off local site in the city. Now, Jason Binn’s Niche Media will enter the market with a luxury mag called Michigan Avenue.

The publication, debuting sometime during this holiday season, will feature cover gal Cindy Crawford and 160 pages of ads (an even 50-50 ad-edit split) from lux brands including Louis Vuitton and Aston Martin.

Chicago Sun-Times columnist Susanna Homan will edit the book.