A UK-based chocolatier is set to open its first U.S. stores since being acquired by Mars earlier this year. The company plans to occupy two former Foxtrot Market locations on Chicago’s North Side. Hotel Chocolat has leased a roughly 2,300-square-foot space at 900 W. Armitage Ave. in Lincoln Park, according to sources familiar with the deal. We had reported earlier this month that the Southport Foxtrot landlord “had had it with Foxtrot”.
Additionally, the premium chocolate brand is close to securing a 3,800-square-foot lease at 3334 N. Southport Ave., as confirmed by Seneca Real Estate Group broker Joe Padorr, who represents the building owner, Harris Properties. Both spaces, previously leased to Chicago-based Foxtrot, are located at the base of small apartment buildings on busy retail streets.
In April, Foxtrot’s parent company abruptly closed its convenience stores throughout Chicago and other cities. Foxtrot founder Mike LaVitola, along with a new investor, plans to reopen some Chicago locations, but several property owners, including those on Armitage and Southport, have been seeking new tenants.
Mars completed its acquisition of Hotel Chocolat in January, buying the company for $662 million. According to Confectionery News, the company recently opened 25 new stores in the UK. Now, Hotel Chocolat is shifting its focus to the U.S. market, particularly in Chicago, where its new parent company, Mars, is a major employer. Mars, based in McLean, Virginia, has been expanding its office, research, and development campus on Chicago’s Goose Island in recent years. This complex is less than 2 miles from the future store on Armitage.
Armitage Avenue has become a popular destination for e-commerce brands like Warby Parker, Allbirds, and Bonobos, resulting in limited vacancy and rising rents. Acadia Realty Trust, the largest retail landlord on the street, reported that rents have increased from $80 per square foot to around $120 per square foot. David Steinberg, the East Coast investor who owns 900 W. Armitage, was in an advantageous position when Foxtrot vacated, though he did not respond to a request for comment from CoStar News.
The building at 3334 N. Southport is at the southern end of another high-demand retail corridor. While rents are typically lower than nearby blocks, recent developments, including the opening of chef Stephanie Izard’s Little Goat and other popular Boka Group restaurants in the former Southport Lanes building, have increased demand. As a result, the landlord turned down a below-market rent offer from Foxtrot. According to broker Joe Padorr, “The market has matured since the Foxtrot lease was signed in 2018.”
It’s unclear how many other stores Hotel Chocolat plans to open locally or nationally. A spokesperson for the company declined to comment to CoStar News. Founded by Angus Thirlwell, Hotel Chocolat opened its first shop in North London in 2004 and also operates a hotel and cacao farm in Saint Lucia.
For the record, Hotel Chocolat was represented by CBRE broker Brent Wayburn in the Armitage lease, with Canvas Real Estate brokers Elan Rasansky and Anthony Campagni representing the landlord. In the Southport deal, Hotel Chocolat was represented by Colliers International brokers Chris Irwin and David Fox and Maven Commercial broker Lorraine Adney, with Seneca Real Estate Group broker Joe Padorr representing the landlord.
Southport Corridor News and Events - Chicago, Illinois 
One thought on “Hotel Chocolat coming to former Foxtrot Southport and Armitage spots”