Kai Rivers
In 1997, Donald J. Trump announced that he would be donating office space to Jesse Jackson's civil rights group, the Rainbow/PUSH Coalition. This was met with an ovation, and Trump noted that he and Jackson had become good friends over the years. In more recent years, the retail space inside Trump International Hotel and Tower Chicago has remained vacant since the skyscraper opened in 2009. The Trump Organization has been working with real estate brokers to find tenants for the space, but it has proven challenging due to short ceilings, political stigma, and the location. Despite these challenges, there has been reported interest from potential tenants, including a cafe.
| Characteristics | Values |
|---|---|
| Name of the space | Rainbow/PUSH Coalition |
| Owner | Donald J. Trump |
| Location | 40 Wall Street |
| Building | 72-story building |
| Current status | Under renovation |
| Tenants | Mr. Jackson's civil rights group |
| Brokers | Newmark |
| Location of brokers | Chicago, New York City, London |
| Rent | $800,000 to $1 million yearly |
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What You'll Learn
Trump Tower's riverfront retail space
The Trump Organization is seeking tenants for the two-story retail space inside the Trump International Hotel and Tower Chicago, which has sat vacant since the skyscraper opened in 2009. The space, located at 401 N. Wabash Ave., has been valued at around $20 million and offers waterfront visibility, including Michigan Avenue and the Chicago River. Despite the prime location, the retail portion has proven challenging to lease due to factors such as short ceilings, political stigma, and a less accessible location.
However, Chicago-based Newmark broker James Schutter has reported "great initial interest" since his firm took over the job in May 2025. Schutter attributes this interest to the waterfront visibility and the appeal of the Trump name to certain potential tenants. Retail broker David Goldberg has also expressed optimism, promoting the opportunity to sign "the most talked-about lease in the country" through Instagram reels.
Goldberg has received a significant response, including interest from a cafe, but has also faced a flood of comments from "trolls." The challenge of attracting reputable tenants to the Trump Tower's riverfront retail space underscores the polarizing nature of the Trump name and its potential impact on business opportunities. While some view the space as a desirable business opportunity, others remain hesitant due to the potential negative connotations.
The Trump Organization stands to benefit financially from leasing the retail space, as it has already won tax breaks and a $1 million tax refund on the vacant property. Additionally, the presence of the Trump name in Chicago's downtown area holds value to the Trump brand and businessman image. However, the ultimate success of leasing the riverfront retail space remains uncertain, given the past challenges and the ongoing divided sentiments surrounding the Trump name.
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The Trump Organization's tax breaks
In 1997, Donald J. Trump donated office space to civil rights leader Jesse Jackson's Rainbow/PUSH Coalition in a 72-storey building he owned at 40 Wall Street. Now, as for The Trump Organization's tax breaks, President Trump's "One Big Beautiful Bill" has enacted trillions of dollars in tax breaks, with individual taxpayers expected to save an average of $3,752 in 2026. The bill includes permanent tax cuts and reforms, such as no taxes on tips, overtime pay, and Social Security benefits for retirees. It also introduces narrow tax breaks, adding complexity and raising revenue costs.
The bill is expected to increase long-run GDP by 1.2% and reduce federal tax revenue by $5 trillion over the next decade. However, critics argue that it may benefit higher-earners while hurting lower-income Americans. The bill also promotes small business growth by making the small business tax deduction permanent and doubling small business expensing limits. It claims to deliver the largest tax cut in history for working and middle-class Americans, increasing take-home pay by over $10,000 per year and providing a 15% tax cut for those earning between $30,000 and $80,000.
The bill also includes historic tax breaks for seniors and Made-in-America tax breaks, such as interest deductions for loans on new American-made vehicles. Additionally, it keeps the doubled standard deduction used by 91% of taxpayers. At the county level, some of the largest average tax cuts for 2026 are expected to be in resort towns, with Teton County in Wyoming, Pitkin County in Colorado, and Summit County in Utah, benefiting the most. These estimates are largely influenced by higher-income individuals in these areas.
In contrast, the smallest average tax cuts are anticipated in rural counties, such as Loup County in Nebraska. The bill also introduces higher taxes on US imports through a series of new tariffs, which threaten to offset the benefits of the promised tax cuts. Overall, while President Trump's "One Big Beautiful Bill" offers significant tax breaks and economic growth, there are concerns about its impact on lower-income Americans and the potential for higher taxes on imports.
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Leasing the retail space
The two-story retail space inside the Trump International Hotel and Tower Chicago has sat vacant for 16 years, except for a hairdresser near the hotel lobby and a tour boat company. The Trump Organization has now engaged Newmark real estate brokers in Chicago, New York City, and London to find tenants for the space. The brokers have reported \"great initial interest," with a number of potential tenants in advanced talks to lease the property.
The retail space is expected to be profitable, with yearly rents for similar large-format restaurants along the Riverwalk ranging from $800,000 to $1 million. The Trump Organization has also won tax breaks and a $1 million tax refund on the vacant retail space.
However, some challenges include short ceilings, political stigma, and a location that is not easily accessible. The space is located underneath a 20-foot-tall "Trump" sign in a city that the former president has criticized. Despite this, broker James Schutter remains optimistic, stating that the Trump name can have both positive and negative connotations, and they will target potential tenants for whom the name is positive.
Retail broker David Goldberg has been promoting the opportunity to lease the space through Instagram reels, calling it \"the most talked-about lease in the country." He has received a significant amount of interest and excitement, despite also facing some backlash from trolls.
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The value of the Trump brand
In 2015, Forbes stated that Donald Trump had consistently pushed for a higher net worth, especially regarding his personal brand. Forbes believed his claim of $9 billion was "a whopper", estimating his net worth to be $4.1 billion. Trump's lawyer, Michael Cohen, later admitted to inflating his client's net worth, stating that Trump had "$2 billion, absolute tops".
In 2022, Trump claimed his net worth was approximately $8 to $9 billion, based on his brand value and transactions. However, the New York Attorney General, Letitia James, alleged that Trump had falsely reported his wealth, inflating it by up to $2.2 billion annually from 2011 to 2021. As of early June 2025, Forbes estimates Trump's net worth at $5.1 billion, while Bloomberg estimates it at $7.08 billion.
Trump's primary business ventures include real estate, such as hotels, casinos, and golf courses, as well as Trump-branded products like neckties, steaks, and urine tests. He has also profited from political fundraising, with his businesses receiving millions from political donations during his presidency.
Trump's brand value has had a significant impact on his wealth. In April 2023, he testified in the New York civil investigation that he believed his brand to be "the hottest brand in the world," attributing his presidency to the strength of his brand. He suggested that the brand value of the U.S. presidency was worth "maybe $10 billion or something" to him.
While the exact value of the Trump brand is difficult to pinpoint, it has undoubtedly played a crucial role in his business success and has been a significant factor in his overall net worth.
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The Rainbow/PUSH Coalition
In 1997, Donald J. Trump donated office space to Jesse Jackson's civil rights group, the Rainbow/PUSH Coalition. The office, located in a 72-story building at 40 Wall Street that Trump was renovating, was offered to the group during a speech by Trump, who noted that he and Jackson had become good friends over the years. The Rainbow/PUSH Coalition was formed by the merger of Jackson's civil rights and economic development groups, the Rainbow Coalition and Operation PUSH.
The focus of the Rainbow/PUSH Coalition office was to be on the automobile, food, and telecommunications industries, with Jackson stating that they wanted to be "trading partners" rather than "boycott partners" with corporations. The group aimed to advocate for economic inclusion and corporate accountability, pushing for corporations to stop targeting certain groups for consumption while boycotting them.
Trump's offer of office space to the Rainbow/PUSH Coalition was well-received, with Jackson praising Trump's efforts in pushing for positive change. This gesture demonstrated a recognition of the group's work in promoting civil rights and economic development. It also highlighted a willingness to support their mission by providing the necessary resources.
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Frequently asked questions
Yes, Donald J. Trump donated office space to the Rainbow/PUSH Coalition, a civil rights group.
The office space was located in a 72-story building at 40 Wall Street, which Trump was renovating.
The office focused on the automobile, food, and telecommunications industries, advocating for economic inclusion for minorities.
Trump received an ovation for his announcement, and he noted that he and the coalition's founder, Mr. Jackson, had become good friends.
Yes, there have been efforts to lease retail space in the Trump International Hotel and Tower Chicago, which has remained vacant since its opening in 2009.
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