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The Chicago Transit Authority (CTA) will open the first-ever Starbucks on the ‘L’ later this year at the North/Clybourn Red Line station, CTA officials announced on Friday.

The addition of Starbucks marks the largest national retailer to lease a CTA-owned space, CTA officials said in a prepared statement.
 
“The high customer traffic on the Red Line in addition to foot traffic near the Apple store is an attractive opportunity for any concession retailer and we are pleased Starbucks will be our latest tenant,” said CTA President Forrest Claypool. “We continue to work toward leasing additional spaces to add even more customer amenities across the system.”
 
CTA received a total of 32 bids were for the 776-square-foot location. Starbucks submitted the highest bid per square foot for the 10-year lease, with options to extend the agreement after the initial term. Annual rent for the first five years is projected at $75,000, with 10 percent increases at year six and at the beginning of the first- and second-year options. The third and fourth option terms will be determined by appraisal. The total 10-year base term lease is projected to generate $787,500, officials said.
 
The board’s approval of the lease brings the total number of leased spaces across the transit system to 89, they said.