Why rent a temporary retail space in Chicago?
A thriving city with Midwestern charm, Chicago boasts some of the world’s best architecture and museums, plus fine-dining and a lively music scene.
With so much to see and do, including visiting jazz clubs, visiting Cloud Gate and walking around its diverse neighborhoods, there’s plenty of room for retailers to pop in and stand out.
With a laid-back Midwestern style, Chicago’s retailers have both a local and international flair and there’s plenty of shopping to do, no matter your mood. In a city that has something for everyone, Chicago also boasts a top retail scene that’s both eclectic and traditional, making it easy for brands and retailers to settle on popping up whether for short-term or an extended stay.
An Ephemeral commercial space can open for a single day or several weeks, even months. A flexible space rental does not commit you with a long term lease and allows you to connect with customers, offer a unique consumer experience or validate the potential of a Chicago neighborhood while benefiting from great flexibility.
Storefront's selection of spaces in Chicago covers a large range of use cases, such as pop up stores, showrooms, art galleries and event venues.
Chicago is the perfect city to organize your commercial event!
Chicago, which draws a crowd eager for discovering new products, is full of special commercial venues available for rent from a few days to a couple of months: old warehouses, apartments, studio spaces etc. Hardwood floors? High ceilings? Marble floors? Whether you are looking for extensive, comfortable or compact spaces, you are guaranteed to find on Storefront the most suitable flexible venue for the event you are organizing.
What Are the Top Locations for Retail in Chicago?
Chicago is a huge market for retailers with its population of 2.71 million and vibrant tourist industry. There are entire streets lined with storefronts, but Chicagoans also have access to shopping malls.
The Central Area is a prime location for retail with busy areas like State Street, North Michigan Avenue, and Roosevelt Road. Chinatown is a subsection of the Central Area that attracts retailers as well. These areas attract a mix of residential customers, students, and tourists.
Retailers who specialize in luxury items should consider a location on Oak Street. The River North neighborhood isn’t far from Michigan Avenue, and it’s a popular spot for art galleries and furniture stores.
The Magnificent Mile or Mag Mile that runs between the River North and Streeterville neighborhoods is a popular touristic spot and busy shopping area.
The Water Tower Place is an impressive mall with eight levels and more than 100 stores. There are other malls to consider, including Woodfield Mall and the Fashion Outlets of Chicago.
If you’re looking for budget-friendly locations, the Lincoln Square area is further away from Downtown Chicago and is a spot where small businesses thrive. Inner-city locations like the Little Village can be more affordable while being near busy shopping streets.
Charming Chicago Neighborhoods
The Loop: The Loop is the central business district and downtown area of Chicago that has something for everyone.
From shopping on State street, to the theatre district to the Arts Institute of Chicago, The Loop is an iconic area that’s also a cultural mainstay. The shopping is unmatched, and retailers will love testing out this neighborhood whether for the first time, or as a repeat short-term customer!
Lincoln Park: Considered one of the city’s most desirable neighborhoods and located right on the lakefront, Lincoln Park exudes much personality and charm.
With top-notch music venues and the Lincoln Park Zoo, thousands of locals and tourists flood the area making it also a great short-term space attraction for brands and retailers looking to make a mark.
Wicker Park: Wicker Park is famous for music and nightlife, plus chef-driven restaurants and a large mixology scene.
A neighborhood that’s “in the know”, Wicker Park also boasts tons of high-end fashion designers and retail chains, plus trendy, small-business shops. Pop up in what is regarded as Chicago’s hot new ‘hood.
Hyde Park: This South Side neighborhood houses the picturesque University of Chicago campus as well as The Museum of Science, making it a widely popular attraction year-round.
With both history as well as modern elements, the neighborhood mixes mom-and-pop restaurants with burgeoning retailers and a big art scene.
Old Town: This historic neighborhood is unlike anything else in Chicago
This historic neighborhood is unlike anything else in Chicago; it has tiny streets, hidden gardens, and tightly packed homes and stills exudes its ‘hippie haven’ name from the ‘60s. The area is also home to the wildly popular Second City improv group as well as tons of independently-owned shops and beautiful architecture. Visitors and tourists love walking the area, and shops both old and new run abound.
River North: With posh restaurants and nightclubs plus luxe shops, River North is an exuberant neighborhood that was once an industrial area.
Merchandise Mart attracts tons of shoppers and visitors with plenty of boutiques and designer showrooms, plus plenty of artist’s studios in converted warehouses. Retailers, artists and brands will be inspired to pop up amidst this energy and charm.
Magnificent Mile: Chicago’s top shopping district
Chicago’s top shopping district, Magnificent Mile has upscale shops and posh hotels, not to mention the Chicago Water Tower and the Wrigley Building. A who’s who in the retail world, this area is world-renowned and best known for the hundreds of retailers who have laid claim here and have made it the shopping destination it is today.
How Much Does Renting a Retail Space in Chicago Cost?
The size and location of a retail space can cause its price to vary from anywhere between $500 USD and $6,000 a day in Chicago. Most retail spaces are somewhere in the $1,500 USD to $3,000 USD a day range.
You can rent a small pop-up space in the West Loop for around $500 USD a day.
If you don’t mind not being near the busiest area, you can rent larger retail spaces in the Lincoln Park area for around $1,000 USD a day.
You’ll find that most options are in the $2,000 USD to $3,000 USD a day range. There are spaces available in the Chicago Loop, River North, and Gold Coast neighborhoods in this price range.
If you’re willing to spend a little over $3,000 USD a day, you can find retail spaces near the Mag Mile. Spending more than $5,000 USD will give you access to exceptional locations like rooftop venues.
What are the most sought-after locations for leasing commercial space in Chicago?
Chicago is a vibrant city on the shores of Lake Michigan and offers a diverse commercial real estate landscape. Location is a crucial element to consider in planning your retail prospects. Chicago's retail market mixes mega malls, niche boutiques, stand-alone stores, and unique shopping streets. One of the prime locations for any retail space investment has to be along the famous Magnificent Mile area of Michigan Avenue. Clustered around this pedestrian area, shoppers and tourists will find everything from medical, non-profit organizations, glamorous hotels like the stunning Drake Hotel, luxury shopping venues like Chanel, Gucci, Bloomingdale's, and fine dining establishments and a thriving local art scene. The Lake Michigan Waterfront and the Magnificent Mile are perhaps as elegant as New York's infamous 5th Avenue and a mecca for locals and tourists. Any retail space for rent in this corridor is an investment in a mixed-use district, and downtown Chicago ranks in the top ten for most expensive in the rental market. From an architectural standpoint, lease clients have a wide choice among historic art deco buildings, historic landmarks, and ultra-modern glass and steel structures blended among greenery and waterways. A wide range of retail opportunities exists in this dominant leasing retail market.
How much does it cost to rent a shop in Chicago?
Commercial rental spaces can vary drastically from a mere $800/pcm to a staggering $22,000/pcm. The largest rental segment falls into the $2,500/pcm segment, while the second-largest category is in the $7,000/pcm price bracket.
- Magic Mile average rental space is 2500 sq ft and $2.82/sq ft; a tourist destination
- Lincoln Park ave/rental space is 2000 sq ft and $3.04/sq ft; affluent neighborhood
- Old Town ave/rental space is 2800sq ft and 5.17/sq ft; historical architecture
- Central Loop average rental space is 2400 sq ft and $2.44/sq ft; pedestrian market
- East/West Corridor ave/rental space is 3000 sq ft and $1.45/sq ft micro-markets proximity to O'Hare International Airport
- North Michigan ave/rental space is 2800 sq ft and $3.67/sq ft high pedestrian traffic iconic shopping mall district
- New East Side along with the Chicago River 2700 sq ft and $2.72/sq ft; elegant & scenicChicago offers a spectrum of unique commercial rental spaces to clients. Finding a reliable real estate partner who understands the retail environment is a wise investment. *pcm= per calendar month
What are the most sought-after locations for renting a pop-up store in Chicago?
Searching for a high-quality space to advertise your products or showcase an event? Consider renting a pop-up store, which is short-term sales space. There are three key factors to consider before settling on a pop-up shop: location, price, and space. Location can be a significant factor when determining the price of leasing a pop-up venue. Some spaces might be cheaper than others simply because of the area it's located in. While price is a factor, the cost of rental space is also dependent on location and space. The size and capacity of a pop-up shop may cause the rent to increase or decrease. The same goes for the location. Popular and highly-populated urban areas will generally cost more than more rural locations. Thankfully, the process of finding the right space for you is made easy with Storefront. Simply type in the desired location, and dozens of available rental spaces will pop up. Some of the more trendy locations include Lincoln Park---one of the most affluent neighborhoods in Chicago---and West Town---dotted with New American cafes and restaurants. No matter the style of the pop-up store you're looking for, there are various excellent options to browse in the city of Dallas.
How much does it cost to rent a pop-up space in Chicago?
As we touched on earlier, the price for a short-term rental space is dependent on location and size. On average, pop-up shops in Chicago go for approximately $2,582 per day, ranging from $200 per day (a 2,400 sq ft space in Lincoln Park) to over $18,000 per day (a 6,000 sq ft space in Streeterville). You can rent pop-up stores in small studios or large lawn areas, depending on what you are using the space. West Town boasts rather affordable rental rates with sizable studio spaces, whereas Gold Coast, Lincoln Park, and West Loop have higher lease rates.
What are the benefits of renting a pop-up store in Chicago for a retailer?
Since this is a short-term rental, you are not tied down with a lease. Unique pop-up shop rental options for rent in Chicago include a "pop-up closet" inside a loft space with a whiteboard for communication, board games and treats for the visitors. Inside a renovated pop-up spaces with high ceilings, tons of natural light, and lots of light-filled rooms. Storefront has the largest commercial spaces available for rent in Chicago: a circa 100,000-square-foot (43,432 square feet of rentable space).
What is the ideal duration to rent a pop-up shop in Chicago?
Rent a pop-up in Chicago in the short-term: 12 weeks maximum. Depending on the rental package, your pop-up store can remain in this space for anywhere between one and six months. The selected pop-up spaces are available on a first-come-first-serve basis. Should you rent a pop-up for only a few weeks or a few months, what is your timeframe? Create a short-term pop-up to coincide with your upcoming promotional activities and time a series of pop-ups throughout a significant time of the year like Spring, Summer, Holiday season, etc. Are you looking to book a short-term space to be available during a high volume of holiday orders? Planning your launch months in advance to leverage the holiday season and book a shorter pop-up.
Useful Tips to make your pop-up venue a success in Chicago
With so many pop up shop venues to choose from, you should be able to find one that works for you and your business. Here are some tips to ensure your pop-up shop rental turns into a great success in Chicago: Location is everything. Choosing a location for your pop-up shop rental is very important, as it will determine the type of footfall you can expect. Make sure to find a prime location in a popular neighbourhood where your target consumers like to shop. Beautiful property with unique architectural elements and local artwork will definitely give your rental pop-up a classy feel that's worth talking about.
