Loop retail vacancies drop to lowest in at least 12 years Micah Maidenberg – February 24, 2014 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 […]
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Sears wasn’t good fit for State Street scene
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
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
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 […]
Another retail project in the works near Roosevelt Road
Another retail project in the works near Roosevelt Road By: Alby Gallun With one big retail development under construction near the Roosevelt Road shopping strip, Chicago-based investor JRG Capital Partners LLC plans another on a site across the street. A JRG venture paid $7.5 million earlier this month for the property at 1113 S. Jefferson […]
State Street store shuffle
State Street store shuffle By: Micah Maidenberg New York investor Joseph Sitt has a big space to fill after losing a longtime State Street retail tenant to a building two doors north. Forever 21 Inc., a Los Angeles-based apparel chain, signed a lease to open a two-level, 17,159-square-foot store at 10 S. State St., according […]
Clybourn Corridor retail property fetches $20 million
Clybourn Corridor retail property fetches $20 million By: Micah Maidenberg Two aggressive out-of-town investors have teamed up to buy a Clybourn Corridor retail property with a lot of vacant space, a risk and opportunity in a recovering retail leasing market. A venture between New York-based Jenel Management Corp. and White Plains, N.Y.-based Acadia Realty Trust […]
Mangia! Inside fancy food emporium Eataly
Mangia! Inside fancy food emporium Eataly By: Lorene Yue Eataly—New York’s celebrity-sponsored food emporium that is the definition of excess—is almost ready to devour River North. But will the neighborhood’s frequent-diner residents and tourists slaver over it? Part restaurant, part gourmet grocer and all show, Eataly is set to open off North Michigan Avenue at […]
Petco, Pier 1 ink leases in South Loop
Petco, Pier 1 ink leases in South Loop By: Micah Maidenberg Petco Animal Supplies Inc. and Pier 1 Imports Inc. have agreed to open stores in the Roosevelt Road corridor, a retail strip that’s thriving in part because of a lack of nearby competition. The pet supplies retailer leased more than 10,000 square feet in […]
More stores planned at Gold Coast corner
More stores planned at Gold Coast corner By: Micah Maidenberg Evanston-based landlord Ralph Marol is raising his bet on the Gold Coast retail market. Mr. Marol plans to demolish a 14,800-square-foot one-story building he owns at the northeast corner of State, Rush and Cedar streets, replacing it with a three-story, 27,000-square-foot retail project. Redevelopment “seems […]