Salon Loft to Open New Location in Chicago

By Roxana Baiceanu

Rendering of 1101 W. Randolph St., Chicago

Strategic Assets Associates leased the 4,680-square-foot third-floor penthouse at 1101 W. Randolph St. in Chicago to beauty service provider Salon Lofts. This will be Salon Loft’s first business location in Fulton Market.

CBRE’s Vice President Sharon Kahan and Associate Michelle Levy represented the owner, while JLL’s Anthony Genovese, Jason Press and Lew Kornberg handled the lease on behalf of Salon Lofts.

The retailer will move into the new space in November. According to the company’s website, Salon Lofts is also leasing a space at 9 W. Erie in River North, Chicago.

The other tenant in the building is Free People, which signed a 10,950-square-foot lease with Strategic Asset Associates last year. Once Salon Lofts joins the roster, the Fulton Market property will boast an 84 percent occupancy rate, with only one 3,000-square-foot space available.

“The momentum continues for this amazing market,” Kahan said in a prepared statement. “The amount of daytime activity here continues to grow as more companies have committed to this area, bringing with them thousands of office users. New residential projects have recently opened as well, which, combined with the already thriving restaurant activity, has made this Chicago’s most dynamic market. Retailers have recognized this and they want to be here.”

As Commercial Property Executive announced last year, Fulton Market will also host the $209 million global head office of giant McDonald’s.

Image courtesy of CBRE