How about Chicago Mag Mile tenants paying $400+ per square foot for prime retail. Sound high, try $3,500/sf on 5th Ave. New York. We all realize its relative to where your business is yet sometimes we forget what deals are in the suburbs, where many of these stores sell the same goods found at the high rent locations, such as Verizon Store that just opened in the Mag Mile! So retails rents of $10, $15 and even $22/sf absolutely seem like bargains in comparison. Whats kind of rents you have seen?
North Michigan Avenue rents eighth-highest in U.S., Cushman survey says – News – Crain’s Chicago Business http://buff.ly/1uDIaBO