Colliers International | Chicago has been named the exclusive agent of the Lululemon Athletica store at 930 N. Rush St., Chicago. The 2,930-square-foot asset is located at the northwest corner of Rush and Walton streets. The Colliers marketing team is composed of Peter L. Block, executive vice president; Brad R. Teitelbaum, senior associate, and Eric M. Suffoletto, senior associate. They are marketing the property on behalf of a private seller.
The single-tenant retail building was completed in 2009 as a build-to-suit specifically for Lululemon Athletica, a yoga-inspired athletic apparel company founded in 1998 and headquartered in Vancouver, British Columbia, Canada. The company has a long-term lease in place at the property.
The property is located in the heart of Chicago’s Gold Coast neighborhood, an area situated approximately one mile north of the Central Business District. The Gold Coast is renowned for its lakefront views of Lake Michigan, its luxury real estate, and its abundant dining and shopping options. The Gold Coast submarket, with just more than 2.5 million square feet of retail space, currently features just a 4 percent direct vacancy rate, nearly half of Chicago’s overall vacancy rate and well below the national average.
The building is situated across the street from the brand new Elysian Hotel. The property also sits kitty-corner from the full-block 900 N. Michigan Ave. mall that is anchored by Bloomingdales. Additional retailers within one block of the property along Rush Street include Prada, Hermes, Barney’s New York and Marc Jacobs.
