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
About this deal
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:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 14,182
- Address: 600 North Michigan Avenue
- Market: Chicago
- Tenant: Jay L. Schottenstein - American Eagle Outfitters
- Landlord's Representatives: Marget Graham, Dick Spinell, & Stanley Nitzberg - Mid-America Real Estate Group
- Tenant's Representatives: Jim Sakanich & Riley McCarron - CBRE
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.
On the Map
Retail
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Players
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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