Savills Tapped to Lead Leasing for Chicago’s Historic Medinah Temple

Friedman Properties Taps Savills to Lead Leasing for Chicago’s Historic Medinah Temple
CRE Market Beat Take
Engaging a major brokerage ahead of Bally’s 2027 departure highlights the need to proactively re-tenant large historic assets in core urban submarkets.

Friedman Properties has appointed Savills to direct the next phase of leasing at Medinah Temple, a historic property in Chicago’s River North neighborhood. The brokerage assignment focuses on identifying a new user for the building once the current temporary casino tenant leaves.

Medinah Temple is located at 600 N. Wabash Ave., a short distance from Chicago’s Magnificent Mile. The Moorish Revival structure offers approximately 132,600 square feet of interior space arranged across five levels, positioning it as a sizable single-asset opportunity in the River North area.

The building currently houses Bally’s Chicago casino on an interim basis. Bally’s Chicago is using the property as a temporary casino location and is expected to remain in the space until relocating to its permanent venue in 2027. With that transition on the horizon, the new leasing assignment is aimed at lining up the property’s next occupant.

The Savills team leading the effort consists of Todd Siegel, Philip Golding and Kimberly Wiskup. Their mandate is to market Medinah Temple and source a user that aligns with the building’s scale, configuration and high-profile location, as well as its status as a protected historic asset.

Friedman Properties acquired Medinah Temple in 2000. Following the acquisition, the company worked with state and local agencies to prevent demolition of the property, preserving its distinctive architectural character. The building later reopened in 2003 as the nation’s first Bloomingdale’s Home Store, marking a new phase in its commercial life.

That retail use concluded when Bloomingdale’s was replaced by Bally’s Chicago in 2023, shifting the property’s role to gaming and entertainment on a temporary basis. Throughout these changes, Medinah Temple has remained a prominent feature in the River North landscape.

In addition to its commercial uses, Medinah Temple carries formal historic recognition. It is listed on the National Register of Historic Places and has been designated as a Chicago landmark. These designations underscore the property’s architectural and cultural importance and add complexity to future leasing and reuse decisions.

The current leasing initiative brings together Friedman Properties, as owner of the building, and Savills, as leasing broker, at a moment when the asset is poised to transition away from interim casino use. The outcome of this process will determine the building’s next chapter within Chicago’s River North submarket.

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