Judge Rules Against Sterling Bay, Grants Retailer's Exit Fee
A judge ruled against Sterling Bay in a lawsuit at 600 West Chicago, where a retail tenant claimed it was owed $515,000 for early lease termination.
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A judge ruled against Sterling Bay in a lawsuit at 600 West Chicago, where a retail tenant claimed it was owed $515,000 for early lease termination.
Building owners are trying to navigate the new economics of the rental market.
Landlords have been swamped by store closings during the pandemic, but a trickle of leases has started to push the shopping strip's vacancy rate down.
Landlords have been swamped by store closings during the pandemic, but a trickle of leases has started to push the shopping strip's vacancy rate down.
Almost 18% of downtown office space was vacant at the end of 2021, according to commercial real estate firm CBRE. The closure of major retailers along the Magnificent Mile, such