CHICAGO (WLS) — Vacancy rates in the Loop and the Magnificent Mile are up, but the I-Team is finding bright spots and reasons to be optimistic about Chicago’s retail future. “I’m hoping some new stores will come in,” a Mag Mile shopper said. “It doesn’t look good, it doesn’t look pretty,” remarked her friend. The corridor […]
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Chicago Loop Retail Analysis – 2022 Data
CUT ME MICK (Rocky Balboa to his trainer, Mickey Goldmill, during his fight against Apollo Creed on January 1, 1976 in Philadelphia) After weathering the barrage of punches from the two-pronged attack of Covid and the subsequent Work from Home (WFH) trend, the Loop’s retail market is indeed battered and bruised. But the real story […]
The Mag Mile’s Vacancy Rate is Pushing 29%. Recent Moves Will Push it Even Higher.
Cartier plans to close this longtime store on the Mag Mile, but Swarovski is leasing the space to the right formerly occupied by Rolex. Three retailers are making moves on North Michigan Avenue in what adds up to a net loss for the beleaguered shopping strip. First, the good news: Swiss crystal and jewelry maker […]
Two Veteran Boutique Chicago Retail Real Estate Firms Announce Merger
Stone Real Estate and RN Realty to Join Forces Chicago, IL – Two longstanding Chicago commercial real estate firms have merged to broaden their capabilities to serve commercial real estate tenants, landlords and investors. The principals of Stone Real Estate and RN Realty have merged into one collaborative team under the Stone Real Estate umbrella. RN Realty […]
How long before Binny’s faces this formidable foe?
Beverage and real estate industry observers have said for years that Total Wine, a liquor retail behemoth, is eyeing Chicago. In the face of this threat, Binny’s finds itself at a critical crossroads.
Here’s some free advice for the new agent leasing Trump Tower’s riverfront space
Three local experts have ideas about what could fill the long-vacant spots.
Mag Mile is struggling but could be on the verge of big deals
The decision this week by Best Buy to abandon its location at 875 North Michigan Avenue, on Chicago’s Magnificent Mile was just the latest blow to the city’s most valuable stretch of retail.
Loop retail vacancy hits 7-year high
Online shopping is shaking up the mix of retailers in the core of the central business district, and it’s left more storefronts empty.