Leading the way in Chicago.
It’s an exciting time for commercial real estate. This is especially the case for retail tenants who are setting up stores in Chicago. Luxury retail brands are leading the way opening stores on Oak Street, Michigan Avenue, Rush Street and in neighborhoods like Bucktown.
Oak Street has made a major comeback after struggling the past few years with the down turn in our economy. The Esquire development on Oak Street has given this high-end shopping destination a new vibe, bringing life back to it. Stores like Tom Ford, Carolina Herrera, Christian Louboutin, Sandro and Maje have opened stores on Oak Street. Brioni, Saint Laurent and Brunello Cucinelli have chosen Rush Street for its Chicago location.
Power luxury retail real estate broker Janika Brenner has represented many of these companies in the store transactions. Notable projects include serving as the exclusive agent for the Waldorf Astoria Chicago, where she did the lease negotiations for Marc Jacobs, Perchance, Brioni and Saint Laurent.
I spoke to her about where she sees Chicago headed when it comes to being a leader in fashion. Ms Brenner says, “Chicago is already a leader in fashion, however, we do see many retail stores come from the coasts (NYC, LA or San Francisco) and then open a Chicago location. But every time I tour with a retailer in the market, they are amazed at how much Chicago’s fashion scene has expanded beyond Oak Street and Michigan Avenue.”
Ms. Brenner also says that Chicago has a great mix of international/national chains with really strong local retailers that often exist side-by-side. The rent costs in the Chicago neighborhoods compared to a market like New York City are more affordable.
For more information on the state of the retail explosion in Chicago or help with your commercial real estate needs, contact Janika Brenner at 312.560.3937 or firstname.lastname@example.org. www.baumrealty.com