Starbucks in the Courtyard by Marriott Chicago / Magnificent Mile
Soaring 46 stories into the downtown Chicago skyline amid world-famous shops and restaurants on
Michigan Avenue, space was at a premium in every aspect of this ground up development that opened
in late 2003. So when 200 square feet of prime ground level space was earmarked in the blueprints for
storage, this prompted brainstorming to identify a revenue-producing alternative. Located with access off
the main lobby, an exterior street entrance was also created to maximize opportunity, and for minimal
upfront investment, the previous storage closet is now producing record profits in record time.
The Result
With a total project cost of $150,000 to produce the Starbucks, this space is currently generating $910 per square foot profit, equating to a 10-month payback on the original capital investment.
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