Seventeen years after its completion, the Trump International Hotel & Tower’s high-profile retail space has secured its first tenant.
La Grange-based Greek restaurant Prasino is set to occupy about 2,800 square feet, according to brokers with the property’s leasing agency, Newmark. The deal, first reported by CoStar, is just the “appetizer” for many more tenants to come, they said.
Prasino owner Ted Maglaris said he plans to open at the tower in the first quarter of 2027. He’s also opening a new Loop location at 33 S. Wabash Ave., and a West Loop restaurant at 200 N. Aberdeen St. this summer.
Trump Tower’s 70,000 square feet of retail space has largely sat empty since opening in 2009. The rest of the building includes the hotel and condo spaces.
The property’s riverfront setting was a big draw for Maglaris.
“I’ve always been drawn to this area because of the energy, walkability and connection to the water. Our concept is inspired by Mediterranean and Greek hospitality, and there is something about being near the river that naturally complements that atmosphere and lifestyle,” he said in an email. “When the right opportunity presented itself at the right time — with the right location and the right deal — it felt like a natural fit. The space allows us to create the kind of experience we envision while serving a diverse mix of residents, office workers and tourists.”
The 92-story building is part of the holdings of the Trump Organization, which is the private conglomerate owned by President Donald Trump. The River North tower has been the site of numerous protests against Trump’s policies and immigration enforcement tactics. The building’s operator was ordered last year to pay nearly $5 million for killing fish in the Chicago River and for operating without a state environmental license. Also in 2025, the building’s management made headlines for blocking pedestrian access to the riverfront plaza outside the property.
Maglaris said he isn’t bothered by the property’s affiliation with Trump.
“Our decision was based on the location, the opportunity and our confidence in the neighborhood,” he said. “We view this as a hospitality investment, not a political statement.”
Newmark brokers Jason Pruger and James Schutter said the tower can be part of the revitalization efforts of the Magnificent Mile, and they hope to fill the rest of the space with a combination of restaurants and experiential retailers. Pruger and Schutter represented the landlord, along with Newmark brokers Larry Kling, Jason Stein, Tim Newman and Simon Carson.
“It’s not about blue, not about red,” Pruger said. “The most American thing is green, and the real estate is strong. … It’s about making money.”
Pruger and Schutter said the team was brought on board about a year ago to focus on the long-vacant retail space, which consists of a ground-floor, waterfront and terrace level. The remaining space will likely be filled with tenants occupying 10,000 to 30,000 square feet.
They’ve been eyeing the retail activity nearby as a positive sign, with recent openings like The Hand & The Eye magic theater and the planned opening of the Candy Hall of Fame Experience.
“What seems to do well on the water in [cities] and in Chicago is food and entertainment,” Pruger said. “Something restaurant-oriented, something entertainment-oriented — to really kind of go on the momentum of what’s happening on Michigan Avenue.”
Prasino’s new locations signify a shift in vision for the business.
“Over the last several years, consumer habits have shifted significantly toward convenience, wellness, coffee culture, grab-and-go offerings, flexible workspaces and all-day dining,” Maglaris said. “That’s exactly what these new locations are built to serve. The new Prasino cafés will help establish the brand as part of customers’ daily routines.”
Schutter and Pruger said they’ve been having “serious conversations” with potential tenants and hope to announce new retailers by the end of 2026. Schutter has led three tours with experiential businesses in the last two weeks.
“Retailers are in the business to make money, and the real estate is too good and the deals we’re cutting are fair,” Pruger said.