Five Iron Golf plans largest US indoor golf complex in River North

The firm, which already has 2 NY locations, joins Topgolf in targeting Chicago for expansion of its indoor golf concept

TRD CHICAGO /
Jun.June 19, 2019 11:00 AM
The Five Iron Golf location in New York’s Financial District

The Five Iron Golf location in New York’s Financial District

Five Iron Golf plans to open the largest urban indoor golf and entertainment venue in the country in River North, as landlords increasingly turn to tenants that offer “experiential” uses.

The New York-based firm leased 11,000 square feet at the base of Speedwagon Properties’ Millennium Centre on Dearborn Street between Ohio and Ontario streets, according to the Chicago Tribune.

The business is expected to open by October. Five Iron has two locations in Manhattan, with another location planned for Philadelphia.

In recent years, landlords have been turning to the more “experiential” uses to replace traditional retail tenants. Malls in particular have filled vacant retail spots with gyms, family entertainment centers, restaurants and bars and more.

Five Iron’s lease adds to the growing number of indoor golf centers sprouting up around the Chicago area, led by Dallas-based Topgolf Entertainment Group. Topgolf Swing Suites are planned for JMB Realty’s 900 North Michigan Shops and the Chicago Athletic Association Hotel Downtown, joining suburban locations in Naperville and Wood Dale, and another planned in Schaumburg.

Five Iron was represented in the Millennium Centre lease by CBRE’s Sharon Kahan represented Fire Iron, and CBRE’s Phil Golding represented Speedwagon Properties. [Chicago Tribune] — John O’Brien

 

Related Articles

arrow_forward_ios
As fewer tenants want huge blocks of space, retail landlords along the Magnificent Mile have adapted by breaking up spaces for multiple tenants. (Credit: iStock, Google Maps; illustration by Kevin Rebong for The Real Deal)

Portion Control: Inside the retail rightsizing of the Magnificent Mile

Marc Jacobs store at 11 E. Walton St., Marc Jacobs (Credit: Getty Images and Google Maps)

Another one bites the dust: Marc Jacobs closes Gold Coast location

Time Out Market at 916 West Fulton Market and Revival Food Hall at 125 S. Clark Street 

Does Chicago still have an appetite for food halls?

Ald. Brendan Reilly and a map of the 42nd Ward, which covers parts of the Loop, West Loop, Streeterville, River North and Gold Coast  

Brendan Reilly on aldermanic privilege, condo deconversions and development in the 42nd Ward

Chicago Skyline (Credit: iStock)

Windy City’s real estate blown away by other cities

Location of the Poplar-Prairie Stone Crossing and Walton Street Capital CEO, Neil Bluhm (Credit: Google Maps and Getty Images)

Walton Street Capital’s mall sale highlights retail market woes

 77 W. Wacker and 201 N. Clark in the Loop (Credit: Wikipedia, Google Maps)

Pension fund makes intriguing Loop dev play

Eddie Lampert and the two closing Sears locations at 5000 Spring Hill Mall (top) and 2200 W War Memorial Drive (Credit: Getty Images, Google Maps)

Where have all the Sears stores gone? Illinois is now down to a handful

arrow_forward_ios
Loading...