Clybourn Place Photo Gallery

Lincoln Park, encompassing Clybourn Place, has a population of 70,492 with 35,570 households and a median household income of $123,044, significantly above Chicagos $65,781 average; 80 percent White non-Hispanic demographic skews toward affluent young professionals and families, driving high consumer spending in lifestyle and specialty retail categories. The area exhibits 9.9 percent population growth from 2010-2020, outpacing citywide 1.9 percent. Accessibility benefits from location steps from North Avenue, a major east-west corridor with daily traffic exceeding 30,000 vehicles, and Clybourn Avenues north-south connectivity; on-site parking includes 447 enclosed and surface spaces post-redevelopment, plus proximity to CTA Red Line (1 mile) and multiple bus routes. Footfall in the Clybourn Corridor ranks high as a regional shopping destination, with unique visitors and dwell times surpassing neighborhood averages per Placer.ai data from 2022-2023, though current vacancy tempers immediate traffic.

The Clybourn Corridor maintains a vacancy rate of approximately 10 percent as of recent surveys, lower than the Loop's 29.78 percent but indicative of selective leasing in premium north side submarkets; Chicagos overall retail vacancy hit a record low of 5.1 percent in mid-2024, with positive net absorption of 1.9 million square feet annually. Rent levels range from $35 to $50 per square foot NNN for ground-floor spaces, with steady increases in Lincoln Park due to limited supply and rising demand for mixed-use formats. Tenant mix favors lifestyle anchors like apparel, home goods, and experiential dining, but faces saturation in these categories from competitors including Southport Corridor (2 miles south) and Armitage Avenue shops. Operational quality is moderate, with aging 1990s infrastructure posing maintenance risks until redevelopment; market strengths include strong sales tax revenue growth since 2020 and adaptation to omnichannel trends, though challenges arise from e-commerce competition and hybrid work reducing commuter footfall.

Leasing opportunities at Clybourn Place are primarily in forthcoming 70,875 square feet of new retail space post-2026, with terms likely featuring 5-10 year leases at $40-55 per square foot base rent plus NNN charges of $15-20, including flexible build-out allowances for lifestyle tenants; current available spaces, like the 7,500 SF former Gap Kids at 1740 N. Sheffield, offer interim options but amid relocation risks from demolition. Advantages include integrated residential activation from 500 new units boosting daily footfall by an estimated 20-30 percent, and supportive zoning for mixed-use enhancing long-term stability. Risks encompass construction delays potentially pushing openings beyond early 2026, displacement of any holdover tenants, and exposure to broader retail headwinds like category weakness in big-box formats given past Bed Bath & Beyond closure. Operational challenges involve temporary access issues during phased build-out and competition for prime frontage along Clybourn Avenue, where 160 feet of exposure commands premiums; overall, the project aligns with Chicagos trend toward experiential, pedestrian-oriented retail in high-density neighborhoods.