Saks closing Mag Mile men’s store, combining with flagship By: Micah Maidenberg Saks Inc. is closing its standalone men’s store on North Michigan Avenue, teeing up a $5 million renovation of its department store across the street. New York-based Saks is jettisoning the 36,000-square-foot men’s store at 717 N. Michigan Ave. after a roughly 15-year […]
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2012 Overview – Chicago Loop Retail Analysis
Loop retail vacancy falls to 10-year low Micah Maidenberg, March 4, 2013 Retailers keep finding reasons to set up shop in the Loop, with vacancy falling to a 10-year low last year. The vacancy rate in the downtown retail market has reached its lowest level in a decade, down to 11.9 percent in 2012 from […]
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Stone Real Estate wins Block 37 mall leasing job – April 30, 2012 ‘Solid guys with no attitude’ have 2 new eateries in works – January 11, 2012 Restaurants filling in for retailers on Michigan Avenue – September 26, 2011 Messenger bag retailer setting up shop in Wicker Park – May 12, 2011 Studley books […]
2011 Overview – Chicago Loop Retail Analysis
Target store, Block 37 sale bode well for Loop retail Crains The Loop retail market didn’t get better or worse last year, but the opening of Target Corp.’s State Street store and the sale of the Block 37 mall could bode well for the area in 2012 and beyond. The retail vacancy rate for the […]
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Armitage Avenue Struggling with Vacancies – April 7, 2011 Loop Retail Scene Strengthening – March 19, 2010 Target Mulls Move to Loop – January 18, 2010
2010 Overview – Chicago Loop Retail Analysis
Loop retail vacancies tumble with help from eateries Crain’s The Loop retail vacancy rate fell last year to its lowest level since 2002 as retailers, led by restaurant chains, expanded downtown as the economy improved. The vacancy rate declined to 13.6% from 14.1% in 2009, according to an annual report by the Chicago-based retail brokerage […]
2009 Overview – Chicago Loop Retail Analysis
‘Uncommon strength’ for Loop retail market Crain’s Retail vacancy downtown climbed last year as several stores and restaurants in the Central Loop closed shop amid a recession that socked retailers nationwide. The Loop’s retail vacancy edged higher to 14.1% last year from 13.7% in 2008, which was a six-year low, according to an annual report […]
2008 Overview – Chicago Loop Retail Analysis
As the Economy Weakens, the Loop Strengthens In the face of the worldwide economic downturn, the Chicago Loop market sustained a surprising 1% growth in the occupancy, increasing from 85.08% to 86.26%. This is the highest occupancy rate since 2002, as this market once again displayed its resilience. “We expected pain this year, but this […]
2007 Overview – Chicago Loop Retail Analysis
Loop retail maintains solid footing The Chicago Loop’s retail real estate market remains vibrant, as the market’s three main strengths — dynamic Millennium Park tourist traffic, developing downtown residential market and strong office tenant densities — attract more retailers to the Loop. With an infusion of approximately 200,000 square feet added to the market, arguably […]
2006 Overview – Chicago Loop Retail Analysis
Loop retail occupancy rises — again Chicago’s Loop retail vacancy dropped by more than two percentage points in 2006, down to 14.58%, and more than three and one- half points from 2004, according to the 5th Annual Loop Retail Survey conducted by Stone Real Estate Corp. “The Loop retail market continues to flex its muscles,” […]