High-End Retailers Flock to Chicago’s Gold Coast: Kith Secures Prime 17,600 Sq Ft Space for Fashion Expansion

Real estate shifts in Chicago’s Gold Coast district signal a growing interest from high-value retailers, as New York-based fashion outfit Kith takes over a full building at 50-54 East Walton Street. The property formerly played host to a Sprinkles Cupcakes store, and now provides Kith with 17,600 square feet of retail space, conditions ripe for the brand’s expansion strategies. This move was first reported by CoStar and later detailed based on property data from Crexi. Kith, conceived by designer Ronnie Fieg, is known for its upscale fashion offerings and a penchant for creating boutique-like shopping experiences.

In an Acadia Realty Trust analyst call, the landlord initially withheld the tenant’s identity, later confirmed by Crain’s New York to be Kith. Acadia, expanding its portfolio, has also recently acquired properties in key New York locations such as SoHo, the West Village, and Williamsburg.

The Gold Coast continues to attract luxury brands, with recent high-profile leases signed by fashion stalwarts like Chanel and Van Cleef & Arpels, which have chosen to migrate from Chicago’s famed Magnificent Mile in favor of the locale. According to The Real Deal, Spanish apparel giant Mango also joined the district, leasing out a space at Acadia’s 664-670 North Michigan Avenue, covering 8,000 square feet. “The Walton Street lease shows how strong the Gold Coast is, and it continues the changing face of Walton Street,” said John Vance, a retail broker at Stone Real Estate who was not affiliated with the deal.

Adding to this trend, Lugano Diamonds secured a multilevel space at 100-104 East Oak Street, owned by Ponte Gadea USA, the real estate arm of Spanish billionaire Amancio Ortega. Despite these developments, Chicago’s retail occupancy hit a 30-year low of 4.7 percent in the third quarter, with Acadia’s local properties at 82 percent occupancy, below their more fully leased New York spaces.

Note: Thank you for visiting our website! We strive to keep you informed with the latest updates based on expected timelines, although please note that we are not affiliated with any official bodies. Our team is committed to ensuring accuracy and transparency in our reporting, verifying all information before publication. We aim to bring you reliable news, and if you have any questions or concerns about our content, feel free to reach out to us via email. We appreciate your trust and support!