663 North Michigan Avenue — Lease in Chicago, IL

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Chicago, IL 60611

Market Context

This retail in Chicago, IL is listed for lease. Compare it against other retail listings for lease in Chicago, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

Estimated Market Rate

$1.62/SF/mo – $2.29/SF/mo

Mid: $1.95/SF/mo

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