Donald Trump Jr. Leases Retail Space To Ted Maglaris At 401 North Wabash Avenue, Chicago

The property involved in this transaction is a retail space located at 401 North Wabash Avenue in Chicago, IL, encompassing a total of 2,800 square feet. The asset is situated at the base of the Trump International Hotel & Tower Chicago and has been vacant for 17 years. This lease marks a significant development in activating the retail section after an extended period without tenants.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not specified
• Address: 401 North Wabash Avenue
• Market: Chicago, IL
• Landlord: Donald Trump Jr. - Trump Organization
• Tenant: Ted Maglaris - Prasino Cafe
• Landlord's Representative: James Schutter, Larry Kling, Jason Pruger, Jason Stein, Tim Newman & Simon Carson - Newmark
• Tenant's Representative: David Goldberg - Goldstreet Partners

The lease agreement was executed by Ted Maglaris on behalf of Prasino Cafe, which is the first retail tenant to establish operations in the Trump International Hotel & Tower Chicago since its completion. The deal signifies a step towards revitalizing the 1.2 million-square-foot tower's retail space, overcoming a prolonged lack of activity and addressing the remaining approximately 70,000 square feet yet to be leased along the Chicago River.