News about 53rd St. in Hyde Park, Chicago
CorePower Yoga Deal Fills Former Borders Building
CorePower Yoga, which offers yoga classes for beginners to advanced students, has signed a lease with the University of Chicago for 4,347 square feet of space in the building at 1539 E. 53rd Street. CorePower Yoga expects to open the new location in mid-2013.
The agreement brings the building, which previously housed a Borders Books and Music store, to 100% leased.
Other confirmed tenants in the 25,000-square-foot building include The Promontory, a new restaurant and entertainment venue by the owners of the popular Longman & Eagle eatery, Bruce Finkelman and Craig Golden; and Chicago-based fashion retailer Akira, which opened on the first floor of the building last week. The yoga studio will occupy the space above Akira.
The University purchased the former Borders building in July 2011 after the now-defunct bookseller closed its Hyde Park store. Securing new tenants for the building has been part of a broader effort to revitalize the 53rd Street retail corridor.
“The building’s size and location make it well-suited for a variety of uses, and we’re pleased that we’ve been able to fill it with some great new options for shopping, dining and working out in Hyde Park,” said James Hennessy, Associate Vice President of Real Estate Operations for the University of Chicago. “These amenities complement the existing and new businesses around the building and add to the economic vitality and momentum of the corridor.”