A multilevel experience celebrating the nation’s candy history is coming to Chicago’s North Michigan Avenue after the rebounding retail avenue was chosen over options in Orlando, Florida and New York.
The National Confectionery Sales Association on Thursday announced a 60,000-square-foot lease at 830 N. Michigan Ave. to create the Candy Hall of Fame Experience.
It is the latest example of hands-on experiences securing spaces on the street and other top retail corridors in the city and throughout the country in recent years as the retail industry adapts to changing shopping habits.
In a statement, the organization said the Chicago shopping strip known as the Magnificent Mile would be the first-ever home to the Candy Hall of Fame, which has existed since 1971. The statement said Orlando and New York City also were considered for the experience.
"For more than a century, Chicago has been home to some of the most iconic names in American candy, including Ferrara, Mars, Brach's, Tootsie and Wrigley. Even Milton Hershey found his chocolate inspiration in Chicago at the 1893 World's Fair," Shelly Clarey, chairman of the NCSA, said in the statement. "Establishing the Candy Hall of Fame Experience here reflects the city's deep connection to the industry and creates a home to celebrate the people who helped build it."
The 20-year lease is the largest signed on the roughly one-mile stretch of North Michigan Avenue in just over a decade.
“I think it’s going to be transformative,” Scott Goodman, founding principal of Farpoint Development, one of the property’s owners, told CoStar News.
“The north end of the boulevard has been a bit quiet from the leasing perspective, and I think this will lead to a lot of other spaces being leased,” Goodman said. “From the city’s perspective, it’s going to be a global draw.”
The NCSA is partnering with Jeff Rubin, a Candy Hall of Fame inductee whose store concepts have included IT’SUGAR, Dylan’s Candy Bar and FAO Schweetz, on a Chicago space that will include massive displays of candy for sale.
Set to open in summer 2027, the candy-focused concept comes at a pivotal time for one of the nation’s top retail high streets.
After years of historically high vacancy, North Michigan Avenue has landed several high-profile retail tenants in signs of a turnaround, including experiences such as a Harry Potter-themed store and a $50 million magic venue called The Hand & The Eye just off the avenue at 100 E. Ontario St. Meanwhile, the Paris-based owner of the 360 Chicago observatory is planning an expansion into space previously occupied by the Signature Room restaurant near the top of the 100-story former John Hancock Center.
Dealmaking is expected to double on North Michigan Avenue this year, according to a recent analysis by local retail brokerage Kirsch Agency, which represented the NCSA in the lease at 830 N. Michigan Ave.
It is the largest retail lease on the avenue since Japanese retailer Uniqlo leased the same space at 830 N. Michigan just over a decade ago. Uniqlo closed that store in 2021, before recently opening a smaller space at 600 N. Michigan Ave.
In one recent setback, Saks Global announced national closures including a massive Saks Fifth Avenue at 700 N. Michigan Ave.
Other tenants that have signed leases on the street or are close to finalizing deals include returning tenants such as Uniqlo and Gap.
Local firms Farpoint and Saxony Capital bought the then-vacant, six-story building at 830 N. Michigan for $40 million in 2023. That was less than one-quarter of the price it previously sold for in 2013.
Owners of 830 N. Michigan previously signed leases for a JPMorgan Chase bank branch and a Hotel Chocolat candy shop.
The Candy Hall of Fame deal fills difficult-to-lease upper floors and will increase occupancy in the structure to almost 80%, Goodman said.
Plans for the Candy Hall of Fame space in Chicago are emerging less than a month after industry giant Mars announced a more than $100 million investment to create 600 new jobs in Chicago in a Fulton Market space that will house Chicago-based division Mars Snacking.
"This wouldn't be possible without the support of the City of Chicago,” Rubin said in the statement. “It's the candy capital, full stop. Generations of companies built this industry here, and the stories behind those creations deserve to live where they began. This isn't just a location choice; it's a homecoming."
For the record
The tenant was represented by Kirsch Agency broker Greg Kirsch. The landlord was represented by Canvas Real Estate brokers Anthony Campagni and Elan Rasansky.