FIRST TWO TENANTS SIGN FOR PRESIDENTIAL TOWERS RETAIL SPACE

CHICAGO — The first two leases have been signed for the retail component of Presidential Towers, a four-tower, 50-story apartment community located in Chicago’s West Loop. The retail space that makes up the first and second floors of the property is in the midst of a repositioning campaign. The first tenant, Fitness Formula Clubs, will occupy 52,043 square feet of first- and second-floor space on a long-term basis. Once build-out is complete, the fitness club will feature a three-story atrium located near the intersection of Clinton and Madison streets, indoor and outdoor pools, a sundeck and state-of-the art fitness amenities. The second tenant, local restaurant Yolk, will be opening its third Chicago location in 4,200 square feet of street-level space. The restaurant, which specializes in breakfast and lunch fare, features Clinton Street frontage. Bruce Kaplan and Leslie Mader of CB Richard Ellis represented Waterton Residential, the project’s ownership agent, in lease negotiations. HSA Commercial represented Fitness Formula Clubs.