​West Town, which includes Bucktown and Wicker Park, is a vibrant neighborhood in Chicago that is experiencing a surge in real estate developments as of March 2025. These projects, characterized by mixed-use designs, aim to blend residential, commercial, and recreational spaces, reflecting broader urban planning trends observed in other cities and presenting exciting opportunities for local retailers.

Bucktown: New Projects Driving Retail Demand

Vienna Beef Plaza in Bucktown, showing the new retail campus (October 2024)​

​Vienna Beef Plaza (2501 N. Damen Ave.) – An adaptive reuse of Vienna Beef’s former factory site into a mixed-use campus. The iconic hot dog company is relocating its corporate offices here and adding retail attractions, including a flagship Vienna Beef restaurant and factory store expected to open in the first half of 2025. A Binny’s Beverage Depot already opened on the site in mid-2024​. The plaza offers 200+ parking spaces and room for 3–5 retail tenants, positioning it as a new commercial hub along the Bucktown riverfront​. Impact: By drawing locals and visitors for food and shopping, this development will boost foot traffic on N. Damen and could raise the profile of nearby retail strips. With its ample parking and large-format space, Vienna Beef Plaza may attract big-name retailers, while also benefiting surrounding small businesses through increased customer flow.

1880 N. Milwaukee Ave. (Mixed-Use Apartments) – A five-story, 44-unit apartment building underway on a vacant Bucktown lot along Milwaukee Avenue​. Developed by Peerless Development with design by SPACE Architects, the project includes ~3,500 sq ft of ground-floor retail space below the apartments, plus a 22-car garage​. Construction kicked off in late 2024 after city approvals earlier that year, and first tenants are expected in 2026. Impact: This transit-oriented development will add dozens of new residents directly on a neighborhood shopping corridor. Once occupied, those residents (and the new shops or café in the ground-floor space) should generate more daily foot traffic along Milwaukee Ave, potentially bolstering sales for existing retailers. New, modern retail space here could command healthy rents and might attract a well-capitalized tenant, further energizing the block.

Lincoln Yards (North Branch Redevelopment) – While not in Bucktown’s core, this mega-development on 53 acres along the North Branch of the Chicago River will greatly influence the area. Sterling Bay’s plan for Lincoln Yards calls for 14.5 million sq ft of new construction – a mix of residential units, offices, retail, entertainment venues, and park space​. Approved in 2019, the project is being built in phases over the coming years. So far a 320,000 sq ft life-sciences center is complete, along with initial infrastructure (roads, riverwalk improvements). Impact: As Lincoln Yards gradually delivers thousands of new homes and jobs just across the river, Bucktown’s foot traffic and retail demand are poised to surge. The development will bridge Bucktown with Lincoln Park, likely funneling more people through Bucktown’s streets and increasing patronage for local shops and restaurants. In the long term, Lincoln Yards will also introduce its own retail districts – potentially raising competition for retailers – but overall it should elevate the entire area’s profile. Higher customer volumes could support stronger rents for Bucktown storefronts, though smaller businesses may need to adapt if the area attracts more national retail players.

Wicker Park: New Projects Driving Retail Demand

Ashland Avenue Apartments (1235 & 1257 N. Ashland) – Two adjacent developments on N. Ashland near Division Street will add a combined 40 new apartments plus ground-floor commercial space just steps from the CTA Blue Line. After some community debate, City Council approved both five-story buildings in mid-2023​. The projects (on the site of the old Mike’s Furniture store) are now led by Noah Properties, which secured permits in early 2025 to begin construction​. One building will house 16 units and the other 24 units, each with street-level retail space for lease​. Impact: These transit-oriented apartments will bring dozens of new residents to the busy Division/Ashland/Milwaukee “Polish Triangle” intersection. More residents living above the station and around local businesses means increased foot traffic for nearby retailers and eateries. The newly built retail storefronts (likely 1,500–2,000 sq ft each) will generate fresh leasing opportunities; given the high visibility and footfall of this corner, expect interest from well-known shops or cafes. While chains could move in due to the prime location, small businesses in the area should also see a boost in customers as the immediate neighborhood population grows.

Wicker Park Place (1162 N. Milwaukee Ave.) – A four-story, 14-unit apartment building rising at Milwaukee and Haddon, a few blocks south of the Six Corners. Branded “Wicker Park Place,” it will include one ground-floor commercial space in an elevator building​. Notably, the project has no on-site parking – emphasizing the walkability and transit-rich character of the location (the Division Blue Line stop is two blocks away). Construction began in mid-2024, with first move-ins targeted by fall 2025. Impact: By filling in a former small lot, this development extends the Milwaukee Ave retail corridor with a new storefront and a cohort of young, car-free renters. The lack of parking means residents and patrons will be on foot, likely patronizing nearby shops for daily needs. The single retail unit, while modest in size, could become a boutique, coffee shop, or service that complements the street’s mix. For Wicker Park at large, projects like this steadily increase the customer base for local businesses and can support gradual rent growth for well-located retail spaces due to higher demand.

1934 W. North Ave. (“Real World” Building) – A historic three-story building (dating to 1907) at North and Winchester is being revamped into a modern mixed-use property. Once famous as the MTV “Real World Chicago” house, the structure will be restored and updated to hold a 2,590 sq ft retail space on the ground floor with nine apartments on the upper levels​. Developer Envoi Partners gained City Council approval in late 2024 to move forward​, aiming to preserve the building’s character while adding contemporary storefront windows and interiors. Impact: Situated just a block west of Wicker Park’s main Damen/North/Milwaukee intersection, this project will inject new energy into a prominent corner. A fresh retail space here – likely attractive to an upscale shop or restaurant given the location – will benefit from heavy foot traffic spilling over from the CTA Damen station and neighboring boutiques. The addition of nine modern apartments (with no dedicated parking, encouraging transit use) means more residents walking the neighborhood. Overall, the rehab will enhance the street’s appeal and could push retail rents upward as renovated vintage buildings like this command premium values due to their location and charm​.

1317 N. Western Ave. (Condos and Retail) – On Wicker Park’s western edge, a second-phase condo building is now under construction at Western Ave. and Potomac. This five-story development will mirror a recently finished sister building next door, containing 19 condominium units on the upper floors and a ground-floor retail space fronting Western​. The first phase (1335 N. Western) opened in 2024; the new building began in late 2024 and is expected to wrap up by late 2025. Impact: Western Avenue is a wider, auto-oriented street, but adding nearly 20 new households (condo owners) and another shopfront can gradually make it feel more pedestrian-friendly. A local business – perhaps a café, gallery, or service – could thrive in the new retail unit by serving residents from both condo buildings and the broader community. As more mixed-use projects take root on Western, they may expand Wicker Park’s retail map beyond the traditional core, creating new pockets of activity. For small businesses, that means more affordable space options just off the main drags, while for larger retailers it could signal emerging areas to establish a presence as foot traffic grows.

(Additionally, other residential projects like the approved 26-unit adaptive reuse of a former orphanage at 1239 N. Wood St. will add more residents into Wicker Park’s interior​. Although purely housing, these kinds of infill developments still contribute to retail demand by increasing the local population.)

Impact on Foot Traffic and Retail Rents

The cumulative effect of these developments will be to boost foot traffic and potentially retail spending in both Bucktown and Wicker Park. In fact, Bucktown was already seeing foot traffic ~13.5% above pre-pandemic levels as of mid-2022, second only to the booming Fulton Market. New housing projects (large and small) will add hundreds of residents within walking distance of shops, while attractions like Vienna Beef Plaza or future Lincoln Yards amenities will draw in visitors from outside the immediate neighborhood. All this translates to more customers on the streets, benefitting cafes, boutiques, and services – especially local small businesses that thrive on pedestrian activity.

Retail rental rates in these neighborhoods are among the highest in Chicago, and new development is both a response to that strength and a factor that could influence it further. Prior to these projects, triple-net rents on prime strips in Bucktown/Wicker Park averaged around $50–$60 per sq. ft. (with North Damen Ave. even higher). With the influx of modern retail spaces (e.g. in mixed-use buildings on Ashland or Milwaukee), landlords will likely seek similar premium rents. High-profile national retailers have already been investing here – for example, upscale brands flocked to Damen Ave., and a new Barnes & Noble is replacing the former bank building on Milwaukee Ave – demonstrating that big retailers see value in the area’s foot traffic and are willing to pay top dollar. New construction will give such tenants fresh opportunities, potentially pushing asking rents at new sites to the upper end of the range.

That said, experts believe there is a ceiling to rent growth in Wicker Park/Bucktown. Even with strong demand, the market had about 35% of its 533,000 sq ft of retail space available as of late 2022, suggesting some slack to fill before rents can climb further. Many independent businesses can only afford so much – and if rent spikes too high, spaces could sit vacant. The good news is that in the most desirable corridors, retail occupancy rebounded quickly after the pandemic​, and new leases have been signed at pre-pandemic rates (or higher) in pockets of Wicker Park like Division St. Small businesses stand to gain from the larger customer base these developments create, which can help them justify current rents.

Overall, the retail landscape in Bucktown and Wicker Park is set to become even more dynamic. Small retailers will likely enjoy increased foot traffic and sales as new residents and attractions invigorate the streets. Larger retailers and brands are expected to continue targeting the area for expansion, drawn by its trendsetting reputation and demographics. For the community, this could mean a broader mix of shops – from indie boutiques to convenience chains – and potentially higher property values. The challenge will be maintaining the balance: keeping the area’s local character and entrepreneurial spirit alive even as development raises the stakes. If done thoughtfully, the surge of new projects will support a vibrant, foot-traffic-friendly environment where both neighborhood businesses and national retailers can thrive side by side.