Search

Menu
Home » Retail News » Anatomy of a Lease » Anatomy of a Lease: Five Iron Golf in Chicago
in Anatomy of a LeasePremium

Anatomy of a Lease: Five Iron Golf in Chicago

Image: Google Maps

Five Iron Golf, an indoor golf restaurant/bar concept, had a soft opening in May for its 13,150-s.f. unit in the North & Sheffield Commons shopping center in the Lincoln Park neighborhood of Chicago. The unit is on the second level of the Class B building, built in 1996, with a dedicated entranceway on the first floor that includes access via a stairway, as well as a passenger elevator. A freight elevator is also included with the site.

Tenant: Five Iron Golf
Location: Chicago
Square Footage: 13,150 s.f.
Owner: North Avenue Properties, LLC
Property Type: Freestanding Shopping Center Building

The Five Iron Golf team was interested in signing a long-term lease for the location because it is a high-volume traffic site in an affluent neighborhood, with a huge parking area and excellent ingress and egress. A large undisclosed sum was spent on buildout costs to fine-tune the space. The unit had originally been an Erehwon Mountain Outfitter, a Midwest-based outdoor tenant, which closed the store to focus more on its suburban growth. Before that, the site had housed a Whole Foods Market, which had vacated in order to move to a new location down the street.

The site has excellent co-tenants, including food brands, such as Peet’s Coffee, MOD Pizza, Epic Burger and Roti Grill, and well as an Ulta Beauty. Many home décor/appliance brands are also represented in the shopping center, such as Pottery Barn, West Elm, Best Buy and Rejuvenation, a local high-end furniture/lighting fixture store.

This is the third Chicago location for Five Iron Golf, and the brand is currently seeking new suburban-based sites outside of the city. This location includes 11 golf simulators that can track personal play analytics such as ball speed and proper angles.

Tenant Representation:
CBRE
321 N. Clark St., Suite 3400
Chicago, IL 60654
Sharon Kahan, First VP
(312) 297-7679
sharon.kahan@cbre.com
Amy Sider, First VP
(312) 935-1909
amy.sider@cbre.com

Property Representation:
North Avenue Properties
1000 W. North Ave.
Chicago, IL 60642
Ken Skolnik, Principal
(312) 664-6300
kskolnik@ameritech.net

Picture of Linda Frabl

Linda Frabl

Frabl is the former editor and reporter of Crittenden’s Retail Tenants Report. She has several years of experience in publishing including stints as a freelance writer, managing editor, copy editor and as an editor-in-chief for two Los Angeles County-based lifestyle magazines. She has worked for Crittenden Research since 2018. She has a degree in English from the University of California, Santa Barbara, and resides in San Diego.

You May Also Like

Sale of the Week: Riverview Plaza in Frederick, Maryland

admin August 1, 2024

Finmarc Management, Inc. acquired Riverview Plaza, a 185,275-s.f. regional shopping center in Frederick for $30M. The center is anchored by T.J. Maxx, Michaels, PetSmart and Bob’s Discount Furniture, and shadow anchored by The Home Depot and Target. Other tenants include Staples, Sierra and Old Navy. The property was 95% leased at the time of the transaction. More

Strategic moves will shape the future of the biggest arts and crafts retailers

Liberty Schauf July 30, 2024

The landscape of arts and crafts retailers is evolving rapidly, marked by significant expansions, strategic partnerships and innovative approaches to customer engagement. Prominent industry players such as Michaels and JoAnn are making headlines by crafting a future full of potential. Their latest initiatives highlight how each adapts to market demands by threading creativity into every More

Anatomy of a Lease: Fun City Adventure Park in Columbus, Ohio

admin July 25, 2024

The trampoline park will occupy a former movie theater space in the Carriage Place Shopping Center in Columbus. Carriage Place is a dominant, highly visible community center at a highly trafficked intersection that sees a combined 53,000 vehicles per day. The center benefits from a high-traffic Walmart as its anchor tenant, ensuring consistent customer flow. More

Fowl play: How fast-food chains are redefining the chicken game – Part 2

Liberty Schauf July 23, 2024

(Click here for part 1.) The global landscape of fast-food chicken restaurants is rapidly evolving and pulsating with energy. Major players such as Zaxby’s, Church’s Texas Chicken, Dave’s Hot Chicken, El Pollo Loco and Bojangles are all vying for a larger slice of the market. These chains show no signs of slowing down with their More

Retailers are placing their bets on the Northeast

admin July 18, 2024

Retailers of all types such as apparel shops, furniture stores, restaurants, gyms and grocers are all setting their sights on new units throughout the Northeast. Many look toward the Tri-State Area for new locations, along with the Boston MSA. These chains are betting on sites in mixed-use properties, shopping centers, outlet centers and even malls More

Fowl play: How fast-food chains are redefining the chicken game – Part 1

Liberty Schauf July 16, 2024

(Click here for part 2.) The global landscape of fast-food chicken restaurants is rapidly evolving and pulsating with energy. Major players such as KFC, Popeyes, Chick-fil-A, Wingstop, Krispy Krunchy Chicken, Chick N Max and Raising Cane’s are all vying for a larger slice of the market. These chains show no signs of slowing down with More

Texas sees a busy start to the summer

admin July 11, 2024

There have been a lot of new retail store openings and leasing activity in Texas over the last month or so. Retailers adding new units in the Lone Star State include restaurant chains, apparel shops, fitness centers, sporting goods stores and entertainment venues. While the major MSAs such as Houston, San Antonio and Dallas see More

Decron Properties acquires shopping center in San Diego for $99 million

admin July 9, 2024

Decron Properties, one of the largest privately owned real estate firms in California, has acquired Mira Mesa Market West Shopping Center from Stockbridge Capital Group for $99 million. The 238,747-square-foot shopping center is located in the San Diego submarket of Mira Mesa. The center is anchored by Home Depot, Smart & Final and CVS. Each More

Load More
Trending Now

  • Popular

    in Latest Retail Trends, Premium

    Retailers are placing their bets on the Northeast

    Retailers of all types such as apparel shops, furniture stores, restaurants, gyms and grocers are all setting their sights on new units throughout the Northeast. Many look toward the Tri-State Area for new locations, along with the Boston MSA. These chains are betting on sites in mixed-use properties, shopping centers, outlet centers and even malls More

  • Trending Hot Popular

    in Premium, Retail News

    100 largest retail tenants in America

    The Crittenden Retail Tenants newsletter and directory has been providing accurate contact information and inside news on the nation’s largest and fastest-growing retailers for the past 20 years. Retail has changed dramatically over the last decade but continues to surprise with robust performance and new players. We have taken the time to identify the largest More

  • Popular

    in Anatomy of a Lease, Premium

    Anatomy of a Lease: Fogo de Chão in Paramus, N.J.

    Fogo de Chão signed an NNN lease for its first restaurant in the state of New Jersey, which will be a 7,648-s.f. space in the upscale Westfield Garden State Plaza indoor shopping mall in Paramus. The deal came to fruition before the pandemic hit, and everyone involved worked diligently to push it to completion. The More

Back to Top
Close

Download Your Free Guide to the Top 100 Retail Tenants in the US

Get all the information you need to close deals faster and easier
Download Now