CIM Group Brings Luxury Watch Manufacturer A. Lange & Söhne to The Shops at Tribune Tower
CHICAGO—December 19, 2023—CIM Group announced today that it has signed German luxury watch manufacturer A. Lange & Söhne to a long-term lease for 1,409 square feet of retail space at The Shops at Tribune Tower in Chicago, Illinois.
Founded in 1845, A. Lange & Söhne is a member of the Richemont group and renowned for sophisticated mechanical timepieces featuring innovative engineering skills and traditional craftsmanship that are widely recognized among the best in the world.
A. Lange & Söhne’s location will be prominently positioned on Michigan Avenue on the corner overlooking Pioneer Court. Pioneer Court, which was redeveloped by CIM Group and Golub & Company, features an artfully designed park area between Tribune Tower and the neighboring Apple store, providing a welcoming destination for both locals and visitors alike to gather and shop. The A. Lange & Söhne boutique is anticipated to open in 2024 and will join Museum of Ice Cream, Foxtrot Market, Blue Bottle Coffee, Rowan, and Krewe at The Shops at Tribune Tower, further expanding the variety of dynamic street retail options on Chicago’s Magnificent Mile.
CIM Group controls approximately 60,000 square feet of flexible retail space on Michigan Avenue with its Tribune Tower and 444 N. Michigan Ave. properties. The Shops at Tribune Tower consists of 50,000 square feet of retail spaces that anchor the ground floor of the iconic 36-story, 740,000-square-foot Neo-Gothic Tribune Tower, which has been transformed into 162 luxury residential condominiums by CIM Group and Golub & Company. In addition to the retailers at The Shops at Tribune Tower, CIM Group brought Coach and HOKA to 444 N. Michigan Ave., the 36-story, 517,000-square-foot Class A office building across the street.
In addition to Tribune Tower and 444 N. Michigan Ave., CIM’s portfolio of Chicago properties include Block 37, the 275,000-square-foot five-level retail center in Chicago’s Loop; mixed-use properties at 1241, 1647, and 1912 N. Milwaukee Ave.; Paragon, an apartment development at 1326 S. State St.; Chestnut Place, a 30-story apartment and retail development at 850 N. State St.; and the 1550 On the Park residential condominium development.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.
About Golub & Company
Founded in 1960, Golub & Company (“Golub”) is a leading vertically integrated private real estate development and investment firm with a rich history of managing investments across the U.S. and Europe. Golub and its affiliates have owned, leased or managed more than 50 million square feet of commercial, mixed-use and multifamily real estate properties, including 45,000 residential units, valued in excess of $10 billion located across the U.S. and internationally. Golub prides itself on its excellence in design and construction, thoughtful attention to detail and respect for people and communities.
About A. Lange & Söhne
Dresden watchmaker Ferdinand Adolph Lange laid the foundations for Saxony’s precision watchmaking industry when he established his manufacture in 1845. His precious pocket watches remain highly coveted among collectors all over the world. The company was expropriated after the Second World War, and the name A. Lange & Söhne nearly vanished. But in 1990, Walter Lange, Ferdinand Adolph Lange’s great-grandson, had the courage to relaunch the brand. Today, Lange crafts only a few thousand wristwatches per year, predominantly in gold or platinum. They are equipped exclusively with movements made in-house that are elaborately finished and twice assembled by hand. With 71 manufacture calibres developed since 1990, A. Lange & Söhne has secured a top-tier position in the world of watchmaking. Its greatest successes include the LANGE 1, the first regularly produced wristwatch with an outsize date, and the ZEITWERK, with its precisely jumping numerals. Exceptional complications such as the ZEITWERK MINUTE REPEATER, the TRIPLE SPLIT, and the most complicated model to date, the GRAND COMPLICATION presented in 2013 in a limited edition of six pieces, represent what the manufacture always strives for: to drive the traditional art of watchmaking to ever-new heights. Launched in 2019, the sporty yet elegant ODYSSEUS marked the start of a new chapter for A. Lange & Söhne.