Southport Shakeup: Anthony's, Nail Bar to Shutter for National Retailer

A new investor on Southport Avenue has big plans for the shopping district in Lake View, with the company moving to shutter two staples and create a massive storefront.

L3 Capital announced June 24 it purchased a slew of buildings on Southport for $6 million, adding to a $13 million investment it made in December. Now L3 Principal Greg Shott is detailing the company’s plan moving forward, specifically regarding storefronts between 3442-3446 N. Southport Ave.

Shott says by the end of 2013, Anthony’s Homemade Italian Ice and Nail Bar will close and merge with the former Southport Athletic Club to make room for a 5,600-square-foot building that will be home to a national tenant. 

“That was in the works before we bought the property back in December, so our intention would be to continue with that and release it as one large space,” Shott said. “Or maybe it would be divided into two large spaces, but we haven’t officially taken the space to market. We’re looking for a strong tenant.”

Word on which tenant L3 is working to acquire is still under wraps. When asked about longtime rumors that both J. Crew and West Elm have been eyeing up the shopping corridor, Shott said he couldn’t go into details.

“We have a lot of strong national demand with all of the buidlings we own, and we’re really cognizant of the flavor of the street,” Shott said. “We don’t want to turn it into all national retailers. We want to be careful and be perceived as adding value to the street.”

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Anthony’s final days at the storefront will be sometime at the end of 2013, which came as somewhat of a surprise to owner Michael Mednick. He said he knew it was coming eventually because the deal is built into his lease, but he’s still sad to leave.

“They haven’t told me anything yet, but I love this space and don’t want to move,” Mednick said. “It’s really hard for the mom and pops around here, especially for me, a seasonal (store). The rents are really horrible, but I would pay the higher rent to stay. Moving and reestablishing would cost a lot. 

Mednight says he’s planning to relocate somewhere on Southport’s north stretch, but he has his eye on areas like Lincoln Square, too.

And he’s not the first to criticize the street’s apparent mile-high rent. In the past, owner Dave McLaughlin of the former Safari Cup was very vocal about closing up shop, as was the owner of Lakeview Physical Therapy. The former Bell Studio is also relocating after rent woes.

Yet Shott says he’s working to maintain the balance of locally-owned retailers and national chains.

“(My vision for the street) is a combination of strong, appropriate locals and some national retailers that compliment what’s already in Southport,” he said. “We’re looking to enhance it.”