After 17 years of complete retail vacancy, Chicago's Trump Tower has finally secured its first tenant: a 2,800-square-foot Mediterranean café called Prasino. This long-awaited lease, slated to open next spring on the riverwalk level, marks a significant milestone for the high-profile property, according to The Real Deal. However, this small victory ends a 17-year retail drought while filling only 4 percent of the Tower's vast 70,000-square-foot commercial space at 401 North Wabash Avenue, as reported by The Real Deal and Bisnow. This minimal lease suggests that despite a new tenant, Trump Tower will likely continue to struggle with its extensive retail footprint, indicating persistent political and economic headwinds.
A Small Step for a Large Vacancy
While Prasino Cafe's 2,800-square-foot lease ends a 17-year retail drought, it leaves a staggering 96 percent of Trump Tower's 70,000-square-foot commercial space at 401 North Wabash Avenue still vacant, according to The Real Deal. This minimal occupancy suggests the property continues to face significant challenges in attracting larger tenants, struggling for relevance beyond its residential units.
Why Has Trump Tower Retail Space Been Vacant?
Media outlets like CoStar and Crain's Chicago Business celebrated the end of Trump Tower's retail vacancy, despite the new lease filling only 4% of the total space, as reported by The Real Deal. This widespread coverage reveals a lowered expectation for what constitutes a 'win' for such a high-profile property. The situation points to a significant brand challenge in the commercial real estate market, indicating unique and persistent market resistance for Trump Tower's commercial spaces.
What's Next for Trump Tower's Commercial Space?
Leasing to a single, small Mediterranean cafe like Prasino, rather than a larger anchor tenant, suggests a cautious, piecemeal strategy. It also implies a continued lack of interest from more substantial commercial ventures for the remaining 96% of the space. As of Q3 2026, Trump Tower's owners will likely continue to face significant challenges in filling its vast commercial footprint.
Given the minimal space leased and the persistent brand challenges, Trump Tower's extensive retail space appears likely to remain largely vacant for the foreseeable future, despite this small step forward.
