Convexity Properties, the real estate development arm of DRW Holdings, has acquired a high-profile site in Chicago’s Gold Coast neighborhood for $39 million, signaling a major step in the district’s ongoing revitalization. Mid-America is proud to have represented Convexity in this acquisition. The site, located at 1120 and 1130 North State Street, includes a two-story building formerly occupied by Barnes & Noble and currently home to Lou Malnati’s Pizzeria.

In a strategic move to maximize the site’s retail potential, Mid-America Real Estate Corporation has been appointed to oversee all retail leasing efforts. Known for managing over 60 million square feet of retail space across the Midwest, Mid-America brings deep market expertise and a proven track record in optimizing tenant mix and property value.

The acquisition adds to Convexity’s existing footprint in the area, which includes the adjacent Viceroy Hotel at 1118 N. State Street. While development plans for the newly acquired parcel have not yet been announced, the property is already zoned for a 304-unit, 345-foot residential tower, approved by the City Council in 2021.

Retailers & Restaurateurs: Stay Tuned for Leasing Opportunities

Mid-America Real Estate Corporation is actively preparing a leasing strategy for this premier Gold Coast location. Businesses seeking high-visibility storefronts in one of Chicago’s most affluent and walkable neighborhoods are encouraged to stay informed.

Interested parties should contact Mid-America Real Estate Corporation for early insights and future leasing announcements. This is a rare opportunity to be part of a transformative development in a legacy retail corridor.

Contact for More Information:

Paul Bryant | 630.954.7354 | [email protected]