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600 North Michigan Avenue

American Eagle Outfitters Signs Lease For 14,182 Square Foot Store At 600 N. Michigan Ave
LEASEDRetail

American Eagle Outfitters Signs Lease For 14,182 Square Foot Store At 600 N. Michigan Ave

600 North Michigan Avenue

Building Size

14,182 SF

Asset Type

Retail

Closing

Apr 23, 2026

AI

The property asset involved in this transaction is a retail space located at 600 North Michigan Avenue in Chicago. This retail asset boasts a total square footage of 14,182 and is strategically situated in a prominent market area known for its upscale shopping and foot traffic.

Summary of transaction details:

The deal involves Jay L. Schottenstein as the tenant, who has signed a lease for the flagship store. The landlord's interests are represented by a team from Mid-America Real Estate Group, while CBRE is representing the tenant in this transaction. The store is set to open on July 1, 2027, marking American Eagle Outfitters' second U.S. flagship location after New York.

Players

Jim Sakanich

CBRE

Broker

$13M

vol

2 deals

Broker
Jay L. Schottenstein

Jay L. Schottenstein

American Eagle Outfitters

Tenant

$5M

vol

3 deals

Tenant

Chicago Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93