Club Studio Fitness has signed a large lease at the base of a 52-story residential tower in Chicago’s Gold Coast, continuing a surge of retail leasing in the affluent neighborhood in recent years.
The fitness chain has taken 32,000 square feet on the second and third floors of a retail property at 1030 N. State St. that is known as Newberry on the Triangle, according to an announcement of the deal by CBRE.
CBRE represents property owners 11 East Partners and Blackbird Investment Group in leasing.
It was the third lease in the ongoing redevelopment of the property by the local real estate developers, following deals by Canadian restaurant group Moxies and clothing chain Anthropologie.
The retail property is at the base of the Newberry Plaza residential high-rise.
Like other luxury retail corridors across the country, the Gold Coast has weathered the aftermath of COVID-19 and a shaky economy while other areas — including nearby North Michigan in Chicago — have experienced setbacks.
Retailers such as Kith, Cartier, Skims and Brandy Melville have signed leases in recent years on prime streets such as Oak, Rush and Walton. Meanwhile, Rush Street has undergone a makeover of its high-profile dining scene.
Urban Outfitters recently closed its store across from the Newberry tower, creating a rare large availability, CoStar News reported in January.
In a redevelopment that began in 2024 in the Newberry tower, the real estate firms are remaking the three-floor retail space long known as the original Morton’s The Steakhouse location. The steakhouse opened in 1978 and remained there until shutting down in late 2020 amid pandemic restrictions.
The gym brand is owned by Irvine, California-based Fitness International, the parent company of LA Fitness.
Club Studio also is coming soon to the Lakeview and Streeterville neighborhoods and north suburban Wilmette, Illinois, according to the company’s website. The company did not immediately respond to a request for comment on the Gold Coast lease.
“The Newberry redevelopment is meaningfully elevating the retail and experiential offering in the Gold Coast,” Danny Jacobson, one of the CBRE brokers who represented the landlord in the deal, said in a statement announcing the lease.
For the record
The landlord was represented by CBRE brokers Luke Molloy, Danny Jacobson and Stephen Ansani. The tenant was represented by Tether Advisors broker Willie Hoag.