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Why Lou Malnati's is closing its longtime Gold Coast restaurant

By Cody King
FOX 32 Chicago
Gold Coast
Published June 19, 2026 1:13 PM CDT
Published June 19, 2026 1:13 PM CDT

The Brief

    • Lou Malnati's announced Friday that its flagship Gold Coast restaurant will permanently close June 30 after the building's owner declined to renew the lease.
    • The property owner, Convexity Properties, is planning to redevelop the site at 1120 N. State St., where Lou Malnati's has operated for the past 15 years.
    • The company is searching for a new full-service location on the Near North Side and will continue serving customers in the area through delivery in the meantime.

CHICAGO - After 15 years in the heart of the Gold Coast, Lou Malnati's flagship pizzeria will close permanently June 30 after the building's owner declined to renew the lease.

The backstory:

The Chicago-based pizza chain announced the closure Friday, saying the decision stems from plans to redevelop the property at 1120 N. State St.

"The closure follows the decision by the building owner, which acquired the property in 2025, to not renew the existing lease as it plans to redevelop the site," Lou Malnati's said in a statement.

The company described the restaurant as a flagship location and a cornerstone of the neighborhood for the past 15 years.

After learning its lease would not be renewed, Lou Malnati's began searching for a new home in the area. The company said it is exploring several options for a future full-service restaurant on the Near North Side, including space in a proposed redevelopment at the State Street site.

Convexity Properties purchased the buildings at 1120 and 1130 N. State St. for $39 million last year. The two-story property was previously occupied by Barnes & Noble and Lou Malnati's.

Although Convexity did not announce redevelopment plans when it acquired the site, the property is zoned for a 304-unit, 345-foot residential tower approved by the Chicago City Council in 2021. The company also owns the adjacent Viceroy Chicago hotel at 1118 N. State St.

What they're saying:

"We consider the Gold Coast location a flagship pizzeria, and it is unfortunate that we must temporarily close our dine-in and carryout service in that area," said Julie Younglove-Webb, chief executive officer of Lou Malnati's. "However, we remain fully dedicated to serving the neighborhood through delivery while we secure a permanent new home for a full-service restaurant in the near-north area." 

What's next:

Lou Malnati's said it has not yet selected a new location.

The Source: The information in this article was provided by a press release from Convexity Properties.

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