The Chicago Transit Board today approved ten leases for tenants to occupy space on the Red, Blue, Brown and Orange lines. The ten new contracts bring the total number of leased spaces to 84.
“This is the third consecutive month CTA has leased concession space at rail stations,” CTA President Forrest Claypool said. “The new coffee and food shops further enhance the customer experience and at the same time provide a reliable source of income for CTA for the next 10 years.”
CTA has entered into agreements which will generate a total of more than $1.6 million for the life of the contracts. Four Dunkin’ Donuts shops will be opened by First Equity LLC at the Fullerton, Lake and the Jackson stations on the Red Line and the Roosevelt station on the Orange Line. First Equity LLC will also open “Millennium Dogs”—a quick serve food restaurant—at the Jefferson Park Blue Line station and two convenience stores, one each at the Howard and Lake Red Line stations.
Lease agreements for convenience stores at the Wellington and Montrose stations on the Brown Line and the Irving Park station on the Blue Line also were approved with Rafi M. Skaikh, Habib Siddqi, and Mina Builders respectively.
Concession spaces are advertised with Jones Lang LaSalle (JLL) and reflect market value for similar properties in each respective area. CTA amended its purchase and sales regulations in March in order to allow JLL to broker leases of available retail concession properties on the open market. Information on available retail concession spaces can be obtained at ctarealestate.com.
# # #