- Trump’s Chicago tower retail spaces remain unleased 16 years after opening, with Newmark now taking over the assignment in a renewed effort to fill the space.
- Roughly 70K SF of retail space on the Riverwalk and mezzanine levels is being marketed, with Newmark casting a wide net for tenants across Chicago, New York, and London.
- The tower’s retail space has been criticized for its flawed design and polarizing branding, presenting ongoing leasing challenges despite its prime riverfront location.
A Renewed Push
Trump International Hotel & Tower in Chicago is getting a fresh leasing effort after years of dormancy, reports CoStar. The Trump Organization hired Newmark to lease 70K SF of retail space at Trump Tower that’s remained vacant since its 2009 opening.
At 401 N. Wabash Ave., Trump Tower is his tallest project and Chicago’s second-tallest, near the river and Magnificent Mile.
Decade-Long Struggle
Despite its prime location, the tower’s retail space has remained vacant despite efforts by Cushman & Wakefield, RKF, and A-R-C. Now, Newmark’s team from Chicago, New York, and London is rebranding the effort and reengaging potential tenants for Trump Tower retail.
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A Willing Landlord
Newmark says the tower’s retail could be redesigned for restaurants or experiences, with possible ceiling changes and added outdoor enclosures. The move signals a new focus on transforming the vacant space into an amenity for Trump Tower hotel guests and residents.
Design and Branding Hurdles
Retail brokers have long pointed out that the space’s curved floor plans, low ceilings, and lack of street frontage limit its appeal. Compounding those issues is the Trump name itself, which some argue may deter tenants due to its political implications. Suggestions to convert the space into banquet halls or offices have surfaced as potentially more viable alternatives.
What’s Next
Brokers will begin touring the space, actively pitching its prime visibility and the increasing foot traffic along Chicago’s riverfront. Despite branding challenges, Newmark says success depends on deal economics and Riverwalk growth attracting tenants to Trump Tower retail.
