French brasserie to open in financial district as part of plaza redesign. Chef Matt Ayala, inset, will helm a new French restaurant in the financial district. The 5,000-square-foot restaurant is planned for the site at 401 S. Financial Pl. (Erin Hooley / Chicago Tribune) Ryan OriRyan OriContact Reporter A sister of French restaurant Cochon Volant […]
Retail rents in the Clybourn Corridor rose in 2016, demonstrating the area’s strength even amid increased vacancy and new developments in the works. Net rents on signed deals in the North Side district, Chicago’s second-largest shopping area after Michigan Avenue, rose about 5 percent to an average of $45.38 in 2016, according to a study […]
Nicollet Mall has seen plenty of exits in the past year or so, but a big, beer-focused restaurant is coming to one of the street’s newest buildings. The new-to-market HopCat, a concept out of Grand Rapids, Mich., is planning a $2 million location on the ground level of the Nic on Fifth apartment tower. HopCat […]
The State of the Chicago Retail Market! In episode 5, Phil gets the state of the Chicago Retail market from one of Chicago’s premiere retail brokers, David Stone of Stone Real Estate Corporation.
David discusses the recent soaring rents in the North Michigan Avenue riverfront area, the challenges and advantages of leasing a unique building such as the Merchandise Mart, and provides trends and forecasts of where this City is going and what both tenants and landlords are looking for in current economic conditions.
With more retailers pouring into the Loop in 2015, vacancy reached its lowest level in at least 14 years. Overall vacancy fell to 9.9 percent last year, the lowest point since Stone Real Estate began compiling a Loop report in 2002, according to the Chicago-based retail brokerage. Vacancy the past two years was 10.8 percent, […]
Retail’s Torrid Romance With Chicago Like a tempestuous relationship—or the Coachella Astronaut that creeped on unsuspecting hispters last weekend— Chicago’s retail recovery is inspired, uneven, and unpredictable. On April 22, we’ll be holding a special Retail Summit to find out where it’ll surface next. Bisnow Chicago office head Jonathan Hobfoll snapped this pic and can […]
Loop retail vacancies drop to lowest in at least 12 years By: Micah Maidenberg Retailers kept gobbling up space in the Loop last year, pushing the neighborhood’s retail vacancy rate to its lowest level in at least 12 years. The retail vacancy rate in the Loop dropped to 10.8 percent at the end of 2013, from […]
Sears wasn’t good fit for State Street scene By: Ellen Jean Hirst State Street increasingly caters to a young hipster crowd. H&M sits across from the Gap and Claire’s. Forever 21 just replaced Charlotte Russe, and Express replaced New York & Co. Carson Pirie Scott was out in 2007. And now, so is Sears. “Sears as […]
Gage owner, celebrity chef cooking up plans for Block 37 By: Micah Maidenberg The Block 37 mall has landed two tenants to serve up something in short supply at the Loop mall: food. Los Angeles-based CIM Group, Block 37’s owner, confirmed it has leased space there to a group led by Chicago’s Lawless family, which […]
Pinstripes coming to Streeterville By: Micah Maidenberg Pinstripes Inc. is bringing its mixture of bowling, bocce and banquets to a former warehouse in Streeterville, ratcheting up competition for entertainment dollars in the downtown neighborhood. Northbrook-based Pinstripes leased 33,000 square feet on the ground and lower levels in River East Plaza, the 109-year-old brick loft building […]