Trump Tower Chicago's 70,000-square-foot riverfront commercial space secured its first tenant in 17 years, a 2,800-square-foot Mediterranean café. The securing of its first tenant in 2026 marks a partial end to a nearly two-decade period where the prominent downtown property remained largely unleased, seeking a retail tenant after a 17-year vacancy.
This new lease, however, covers only 4% of the total available commercial space, leaving the vast majority still vacant. The limited scope immediately raises questions about the tower's broader commercial viability for larger retail operations.
Based on the minimal impact of this new lease on the overall vacancy and the tower's long history of commercial struggles, the Trump Tower's retail space is likely to remain largely empty for the foreseeable future.
A Tiny Footprint in a Vast Void
Prasino, a Mediterranean café, will occupy approximately 3,000 square feet of terrace space at the Trump International Hotel & Tower in Chicago next spring, according to Bisnow. Other reports specify the lease is for 2,800 square feet at the riverwalk level, as detailed by Therealdeal.
This leased area accounts for only 4 percent of the tower's total 70,000-square-foot retail space, leaving 96 percent vacant, according to Block Club Chicago. The small footprint underscores the persistent challenge of filling the overwhelming majority of the property's commercial real estate.
A History of Unfilled Space
The 70,000-square-foot commercial space at 401 N. Wabash Avenue has never secured a major tenant throughout its 17-year history, according to Block Club Chicago. This consistent inability to attract a substantial anchor tenant suggests fundamental market challenges beyond temporary economic fluctuations or timing.
