Los Angeles-based real estate investment trust company CIM Group recently signed a new tenant to the retail roster at the landmark Tribune Tower in the central Chicago business district.
German luxury watch manufacturer A. Lange & Söhne signed a long-term lease for 1,409 square feet of Streeterville retail space at The Shops at Tribune Tower. The space offers a prominent location on Michigan Avenue on the corner overlooking Pioneer Court. Expected to open in 2024, the A. Lange & Söhne boutique will join the Museum of Ice Cream, Foxtrot Market, Blue Bottle Coffee, Rowan, and Krewe in expanding the Tribune Tower’s contribution to the Magnificent Mile’s variety of dynamic street retail options.
Originally completed in 1925, the iconic, neo-Gothic skyscraper located at 435 N. Michigan Ave. stretches more than 460 feet upward and has served as home to The Chicago Tribune, Tribune Media, Tribune Broadcasting, Tribune Publishing, WGN Radio, and the CNN Chicago Bureau.
In 2016, the property was acquired by a partnership of CIM and Golub & Co. The joint venture subsequently embarked on an ambitious project to transform the landmark skyscraper into a mixed-use property including more than 160 luxury condos and a sizeable retail component. Phase II would see the construction of a second skyscraper on a parking lot east of the Tribune Tower — a supertall addition to the Windy City skyline that would rise just 29 feet shorter than the Willis Tower.
Founded in 1845, A. Lange & Söhne is 80 years older than the historic property housing its future boutique space. A member of the Richemont group, the new luxury retail tenant of the Tribune Tower is renowned for sophisticated mechanical timepieces that blend innovative engineering skills with traditional craftsmanship widely recognized as among the best in the world.
The Shops at Tribune Tower encompasses roughly 50,000 square feet of premium Chicago retail anchoring the ground floor of the distinctive, 36-story skyscraper.
CIM’s portfolio of Chicago properties also includes Block 37 — a five-level shopping center that includes roughly 275,000 square feet of Chicago Loop retail space — as well as Chestnut Place, a 30-story apartment and retail development on North State Street.
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