Magnificent Mile Retail
For Lease
Contact for pricing
940 N Michigan, Chicago, IL 60611
Prime retail space on Chicago's Magnificent Mile.
Space SizeContact for details
Days on Market274
Property Features for 940 N Michigan
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
CBRE | Chicago
(312) 861-7834
Listed By:
Todd Siegel
(312) 861-7834
Source:
Cbre
Added: Nov 22, 2025
Changed: Aug 18
Last Checked: Aug 23 at 10:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Chicago
Investment Insights
Based on property information with market context.
Located on the Magnificent Mile, the property at 980 North Michigan Avenue presents an opportunity to join Chicago's luxury retailers and attract affluent locals. This location is situated in the heart of the Gold Coast neighborhood, surrounded by a high-end residential population. The available mezzanine level space features up to 5,553 square feet and over 55 feet of windows overlooking Oak Street. The property is positioned at the entrance of a 57-story mixed-use Class A building that includes office, luxury residential units, and upscale retail spaces. An additional 9,546 square foot restaurant space is available on the second floor overlooking North Michigan Avenue. The surrounding area includes retailers such as Marshall Pierce, Tod's, Gucci, Michael Kors, MaxMara, Mont Blanc, Louis Vuitton, Alice & Olivia, David Yurman, Bvlgari, Anne Fontaine, and Omega Watch, as well as The Signature Room, Water Tower Place, Macy's, H&M, Columbia, and Uniqlo.
Key Highlights
- Premier Location on the Magnificent Mile.
- High‑End Demographics in the Gold Coast neighborhood.
- Mixed‑Use Building provides broad consumer exposure.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Dining 10%
Home Improvements & Furnishings 8%
Apparel 5%
Family Dollar
Shops & Services
8,624 visits/mo
0.1 miles
Citgo
Shops & Services
5,452 visits/mo
0.2 miles
Pepe's Mexican Restaurant
Dining
2,032 visits/mo
0.3 miles
True Value Hardware
Home Improvements & Furnishings
1,659 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
1,344 visits/mo
0.5 miles
Demographics for 60611, IL
38,456
Population
28,239
Households
1.4
Avg Household Size
39
Median Age
88%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
48,070
Density / Sq Mi
$124,621
Median Household Income
$92,917
Median Earnings
$2,416
Median Rent
$608,200
Median Home Value
Market
Lease Benchmarks for Chicago, IL
$25.9 /SF/Yr
Avg Asking Price
$8–$133 /SF/Yr
Price Range
9,190 SF
Avg Space Size
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Prime retail space on Chicago's Magnificent Mile.
Where is this retail space located?
The property is located at 940 N Michigan Chicago, IL.
What are key features of this property?
This property features: Premier Location on the Magnificent Mile.; High‑End Demographics in the Gold Coast neighborhood.; Mixed‑Use Building provides broad consumer exposure.
