Nontraditional Retail Drives Growth In The Whole Sector For Chicago

Restaurants, entertainment venues and specialty fitness studios have become "the main source of activity and growth in the retail sector" in the Windy City, according to a recent analysis by CBRE Chicago.

With climbing Chicago rents and the threat of e-commerce swallowing an ever-larger market share, traditional retail may need to reconsider its continued reliance on traditional brick-and-mortar stores.

High Street will always have strong interest from retail tenants," said CBRE senior vice president Kim McGuire. "But surrounding neighborhoods are finding it more difficult to attract quality retailers, as rents have escalated in recent years and the internet continues to take its toll."

Kim says nontraditional retail has stepped up to fill this vacuum, with growth especially strong in Streeterville, River North and Old Town. [CBRE]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Texas Governor's Data Center Power Pause Gets Split Verdict From Developers

MAPPED: Dozens Of Properties Hit The Market As Prosecutors Circle Shabselses' Bankrupt Empire

Lenders Up Foreclosures On Financially Stressed U.S. Households In 2026

AEW Adjusts Deployment Plan For $1.8B Real Estate Fund

Laramar Group Pays $166M For 43-Story South Loop Apartment Building

Law Firms Are On A Historic Office Binge

In Jackson Hole, Warsh Says Fed Policy Isn't Restrictive, Pledges To Tame Inflation

Bridges Real Estate Snaps Up Mixed-Use Building In Utrecht

Senior Housing Shortage Projected To Hit A Million Units

A $5.1T Corner Of CRE Is Struggling To Find Capital

Illinois' Data Center Backlash Puts Politicians In A No-Win Position

Chicago Apartment Manager Settles Housing Discrimination Lawsuit