Lululemon Signs 12,000-Square-Foot Lease at Chicago's Tribune Tower

Lululemon Athletica Inc. signed a 12,000-square-foot lease at Tribune Tower, 435 North Michigan Avenue, expanding its presence on Chicago's Magnificent Mile, the retailer's latest move into the recovering luxury corridor. The Canadian athletic wear retailer already operates Chicago locations at 930 North Rush Street and the 900 North Michigan Shops. It joins Fare, Big City Optical and Intuit TurboTax in leasing retail space at the tower. Magnificent Mile availability rates have fallen to 26.1%, down three percentage points year over year from a pandemic peak of 33.8%. North American Real Estate, led by Savas Er, bought Tribune Tower's retail portion in 2025, betting on the rebound. Pacific Life is investing $40 million in a vertical mall renovation, while Commonwealth Development Partners secured $114 million for an office-to-residential conversion nearby.