Retail can dictate the image of a building… When you sell retail like this, you can lose control of the image of your building.
– David Stone, president of Chicago-based Stone Real Estate, on Donald Trump’s plan to sell the Trump International Hotel & Tower Chicago‘s riverside retail space. Trump has been unable to secure any leases for his four stories of retail and “may be willing to forgo future profits for cash now,” according to Crain’s.
The sale could fetch as much $130 million, but as Stone suggests, it could also give the buyer free rein to reconfigure the space to accommodate a few big tenants instead of the smaller, boutique shops Trump has promised in the past. I’d take a grocery store in my high-rise over a jewelry store any day, but I’m sure that goes against the brand.
Mark and I are going over the tower on Wednesday for another one of The Donald’s celebratory press conferences, and we’re taking our cameras with us. We know how much you like those Ivanka videos…