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CHICAGO — The Terra Foundation for American Art has sold the retail portion of the Ritz-Carlton Residences Chicago Magnificent Mile for $86.6 million to New York-based Acadia Realty Trust. The 18,141-square-foot, two-story property, which is located 664 North Michigan Ave., housed the Terra Museum of American Art until 2004. Tommy Bahama and Ann Taylor occupy the majority of the retail space and account for 85 percent of the property’s net operating income.