With new leases, 82% of available CTA concession spaces now rented

With new leases signed at three rail stations, the CTA announced last week that 82% of its available concession space was leased.

According to a press release, the Chicago Transit Board last week approved multiyear leases for:

  • Monroe/Adams Blue Line: Adams Newsstand
  • Midway Orange Line: Dunkin’ Donuts (extended lease)
  • Dempster-Skokie Yellow Line: Ciao Bella Express coffee and food shop

"Combined, the three leases of the spaces—ranging in size from 201 to 237 square feet—will generate just over $65,000 annually in lease proceeds. The base leases, ranging from 5 to 10 years each, are projected to generate $536,800."

When the Red North Station Interim Improvements project is complete, a number of spaces north of Wilson will become available for lease too.

At the Morse station -- the first to receive a waterproofed rail bed, with new ties, track and ballast -- at least five new commercial spaces will be rehabbed and available for lease, including two or three under the Lunt entrance.

The CTA will use the site of a former currency exchange at Morse to expand the Morse station house, according to 49th Ward Alderman Joe Moore.

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  • "When the Red North Station Interim Improvements project is complete, a number of spaces north of Wilson will become available for lease too."

    Translation: An unknown number of storefronts under the L with boarded up or dirty windows were not included in the statistic.

    Also, I wonder how, say, the Dunkin Donuts in the 95th St. Station (and anything else there) will do if riders don't have to go into the station, since there won't be a train to catch there (according to CTA). I guess though that, unlike there being a Starbucks in the old Dempster station, anyone wanting a coffee at 95th while waiting for a bus to show up won't have much choice but to go into the station and hope they don't miss that bus.

  • In reply to jack:

    My guess is that they only included ready to lease spaces, not spaces that may be available in the future.

  • In reply to chris:

    Undoubtedly true, but the statistic purports a level of success that isn't there. As usual.

  • In reply to jack:

    Seems like a pretty clear statistic to me.

  • In reply to WestLooper:

    So, you agree that 82% of 60% is approximately 50%? Then it is clear.

  • The math is right, but what are you referring to?

  • In reply to WestLooper:

    If you haven't figured it out, then it isn't a "pretty clear statistic."

    Go back and read the whole thread of comments and figure it out. Especially my point in comment 3, which is the CTA generally manipulates statistics to show a level of achievement that is not there, and the second paragraph of my comment 1.

  • In reply to jack:

    Yes, I understand that not all spaces are available, but where are you getting the 60% figure from? Do you know that only 60% of the potential retail spaces controlled by the CTA are available for lease?

  • In reply to WestLooper:

    Apparently you didn't read the last part of my last comment, which was to read "the second paragraph of my comment 1."

  • In reply to jack:

    So if there's an "unknown number of storefronts under the L with boarded up or dirty windows were not included in the statistic."

    ... where did you get your figures?

  • In reply to Kevin O’Neil:

    Since everyone else wants to be clueless here, let me put a rest to this.

    Despite my use of "unknown," westlooper made an assertion that the statistic was clear. However, if there is an unknown, obviously it is not. Hence, he has not upheld the burden of supporting his assertion.

    However, the real burden is on the CTA, which put out a statistic claiming 82%, which would be a high level of success, but it not giving the number of how many concessions are unavailable for any reason. So, you ask CTA what the number is.

    No different than former claims that they were only subsidized 91 cents a ride, until it was pointed out that ride meant unlinked trip, not boarding fare.

  • In reply to jack:

    So you made up the 60%, ok.

    The 82% figure is a relevant benchmark -- how well is the CTA doing renting out the spaces that it has available. The press release made clear that the denominator was not all spaces, but available spaces.

    Your point (if I understand it through the snark screen), is that another relevant benchmark is how many potential spaces are available for lease. That's a fair point. Someone should ask.

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