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Greenstone Markets Former Loop Woolworth’s as Redevelopment Opportunity

Greenstone Partners has been exclusively retained to advise in the sale of an urban, mixed-use property in the Chicago Loop. The 112,495- square-foot building located at 209-227 S. State St. is positioned for a large-scale ground-up development or redevelopment of the existing structure. Greenstone CEO and managing partner Danny Spitz and director Malek Abdulsamad are representing the seller.  

“The building, a former Woolworth & Co. property, features the most favorable zoning designation in Chicago —which makes it primed for redevelopment with maximum density,” said Spitz.  

Situated on an approximately 20,296-square-foot parcel of land, the property is currently vacant and offers a total buildable area of roughly 325,000-square feet under current zoning. “This property offers the full menu of flexibility — adaptable for either ground-up development or a redevelopment — and has the potential to become a newly renowned State Street property.” Abdulsamad said.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition