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Deals & Dealmakers

L3 Capital’s Newest Tenants In Chicago’s Fulton Market

L3 Capital, a best-in-class, prime urban retail and mixed-use real estate investment firm, today announced New York-based cosmetic dermatology group, Ever/Body, and next-generation diamond retailer, Brilliant Earth, will join L3 Capital’s fast-growing tenant roster in Fulton Market, Chicago’s most dynamic emerging neighborhood. The announcement marks a total of six new tenant openings facilitated by L3 on West Randolph Street since September 2022.

The two new tenants are set to open this fall in L3’s latest mixed-use development at 1020 W Randolph Street. In January 2022, L3 Capital completed the redevelopment of a former bank and adjacent parking lot located at 932 W Randolph Street. The 35,000-SF mixed-use development is now fully leased and the recipient of a Chicago Landmarks 2022 Preservation Excellence Award. 

The first of four tenants to open was Lululemon back in September, marking the athletic clothing company’s sixth permanent location in Chicago. In October, everyday fine jeweler, Mejuri, opened their first store in Chicago two doors down. 

Puttery made their market debut the following month in a two-story mini-golf and cocktail bar hybrid spanning the upper levels. Last week, Brooklyn-based luxury bedding brand, Brooklinen, followed suit with their first Chicago store opening in the last ground floor space.

“The fact that Mejuri, Brooklinen, Puttery, and now Ever/Body chose to make their Chicago debut in Fulton Market proves the neighborhood has the demographics to support strong retail tenancy,” said Whitney Robinette, Principal at L3 Capital. “We strive to bring a unique tenant mix that will attract a variety of people to all of our properties while catering directly to the communities in which we invest.”

The influx of new tenants defies post-pandemic skepticism around brick-and-mortar retail and amplifies L3’s burgeoning impact within the Fulton Market neighborhood. In 2019, the firm made headlines after hosting Virgil Abloh’s neon orange LVMH residency in collaboration with The Museum of Contemporary Art. Later that year, L3 unveiled the transformation of an 1880’s meatpacking operation into a 49,000-SF Time Out Market food hall and event venue, the only destination of its kind in Fulton Market or the City of Chicago.

L3 Capital’s Chicago portfolio consists of prime retail properties located in the city’s most desirable “live, work, play” neighborhoods, including Fulton Market, the Gold Coast, and Lincoln Park. For more information on L3 Capital, please visit https://l3capital.com/.

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