A Chicago firm has bought a historic retail property at the northern tip of Michigan Avenue at a discount to previous valuations, betting on a sustained recovery of the city’s best-known shopping destination.
Palmolive Building retail in Chicago sells at a discount
L3 Capital acquires shops at base of historic tower formerly home to Playboy
By Ryan Ori
CoStar NewsAugust 3, 2026 | 10:29 P.M.
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IN THIS ARTICLE
- Properties
- Palmolive Building
919 Michigan Ave, Chicago, IL
- Companies
- L3 Capital LLC
Finance and Insurance
- Nuveen
Finance and Insurance
- Contacts
- Joe Girardi
Principal, Mid-America Real Estate Corp.
- Keely Polczynski
Senior Managing Director, Newmark