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Terra Foundation for American Art Retains RKF to Market North Michigan Avenue Retail Space

09.05.17

Firm is exclusively marketing 6,232-SF corner retail/restaurant opportunity at 668 North Michigan Avenue at the heart of Chicago’s Magnificent Mile

CHICAGO —RKF, the country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, announced that it has been retained as the exclusive retail leasing agent by Terra Michigan Avenue Property, LLC, an affiliate of the Terra Foundation for American Art, for 6,232 square feet of retail space at 668 North Michigan Avenue, on Chicago’s Magnificent Mile.

RKF Vice President Anthony Campagni and Director Elan Rasansky are representing the space, which is currently occupied by Harley-Davidson. Paul Zucker of City Real Estate Incorporated assisted Terra with the selection of RKF for this assignment.

Situated at the base of the Ritz Carlton Residences between East Erie and West Huron Streets, 668 North Michigan Avenue offers an extraordinary corner retail opportunity at the heart of Chicago’s globally-renowned retail market. The available retail/restaurant space is comprised of a 576-square-foot ground floor entrance leading up to a beautiful 5,656-square-foot second floor, with 168 feet of wraparound frontage along Michigan Avenue and Erie Street. In addition to the Ritz Carlton’s 89 condominium units, the building has three floors of office space. The other portion of the retail space in the building is leased to Tommy Bahama and LOFT.

“This is a rare opportunity for tremendous exposure on North Michigan Avenue at a great value,” explained Rasansky. “It offers a retailer or restaurateur a coveted flagship or regional outpost on the Magnificent Mile, which caters to a high-end resident, tourist and office population. It is ideal for any kind of specialty retailer or fashion brand, restaurants, bars and salons, as well as cosmetic medical or dental services.”

Situated immediately across the street from the recently announced four-story, 43,000-square-foot Starbucks Roastery Flagship and Niketown, 668 North Michigan Avenue is surrounded by high-end retailers, including Rolex, Cartier, Salvatore Ferragamo, Ermenegildo Zegna and the award-winning 30,000-square-foot Burberry flagship store.

About RKF

The leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $30 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage.

RKF’s Chicago office is located at 353 North Clark Street, Suite 2050, Chicago IL 60654 T: 312.698.8880. www.rkf.com

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