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The Benefits of Retail Space in Mixed-Use Buildings

Our latest development to break ground, Optima Lakeview, is a mixed-use building that’s bringing in-demand and exciting retail space to the Lakeview neighborhood of Chicago. Combining residential and retail into one building (earning the name “mixed-use”) is a time-old way to reap benefits for both residents and businesses alike. So what exactly are those benefits? 

Understanding Mixed-Use Buildings

For starters, let’s define what a mixed-use building is. A mixed-use building (MXD) is a building with three or more significantly-sized, revenue-producing businesses, whether those businesses are offices, retail stores, restaurants or other hospitality locales. The purpose of MXDs is to maximize the efficiency and value of a limited space, especially in urban areas, where space is in high demand. 

In addition to the underway Optima Lakeview, many other Optima projects are also mixed-use buildings. Optima Signature, our luxury condo community in Chicago’s Streeterville neighborhood, features retail tenants such as Bedazzled Nail Salon, GoodVets Veterinarian Office, Egg Harbor Cafe, Guidepost Montessori School, Runaway Fitness and an interior connection to the Whole Foods nextdoor. 

Retail-space-filled plaza at Optima Signature
Retail-filled plaza at Optima Signature

Benefits of Retail Space 

Introducing mixed-use buildings into a neighborhood means retail space is closer than ever to residential. For residents, this translates into a more pedestrian-friendly experience: their needs are accessible and within walking distance. For the environment, increased walkability also means less pollution from transportation. And for business-owners, their storefronts gain increased exposure as people stroll by, leading to increased sales and success. Overall, mixed-use buildings lead to a stronger sense of community and better quality of life for both residents and businesses. 

At Optima, we make the most of our retail space by thoughtfully hand-selecting each business. Retail space in our residential buildings is yet another amenity that serves to enhance the lives not just of our own residents, but of the surrounding community, too.

Neighborhood Spotlight: Lakeview

We began the Optima story with our roots in Chicago, and we’re thrilled that our next exciting chapter is expanding our portfolio to include our latest project, Optima Lakeview. Like many others who call the neighborhood home, we were drawn to the community’s vibrancy, history and diversity. Today, we’re sharing just a few reasons why we love Lakeview.

Belmont Harbor in Lakeview
Belmont Harbor on the Chicago lakefront. Credit: Gerald Farinas on Wikimedia Commons, licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

A Place to Play

In the early 1900s, Lakeview was actually considered a suburb of Chicago and acted as an escape from the bustle of the city. Its shopping and recreational scene attracted visitors back then, just as it attracts residents and visitors now. Whether it’s catching a game at Wrigley Field or enjoying a Chicago summer at the lakefront, the neighborhood is famous for its leisurely attitude and playful spirit. In a typical, non-pandemic year, expect summer street festivals, performances in the Belmont Theater District and the festive Lakeview Holiday Stroll; but despite COVID-19, the area still retains its charm and liveliness.  

Fantastic Food & Culinary Fare

No matter what you’re craving, Lakeview has a little bit of everything. Strings Ramen shop has some of the best noodles in the neighborhood, and the city. Ella Elli is known for its ambiance and curated cocktail list. The Chicago Diner offers an impressive take on vegan food (we promise you’ll love it even if you’re not vegan). If you need a few more ideas, The Infatuation has you covered. 

Something For Everyone

Lakeview itself encompasses many different sub-neighborhoods, including Sheridan Station Corridor, Northalsted, Southport Corridor, Lakeview East, Lakeview West, Wrigleyville and Northalsted. Residents range from young professionals to families who have been loyal to the neighborhood for generations, and with good reason. The neighborhood is a favorite of long-term residents and new transplants alike, even earning a top spot in Money Magazine’s Best Big Cities

We’ve already broken ground on Optima Lakeview, and we can’t wait for what’s to come as we become a part of the community!

Neighborhood Spotlight: Downtown Scottsdale

Home to Optima Camelview Village and Optima Sonoran Village, Downtown Scottsdale is a locus of access, spanning from arts, culture, shopping and nature. Here are just a few of our favorite spots:

Fashion Square

Nextdoor neighbor to Optima Sonoran Village, Fashion Square is an upscale, contemporary shopping hub. The Square features luxury shopping, dining and entertainment unmatched by anything else in Arizona. High-scale brands include Louis Vuitton, Gucci, Bottega Venetta, Saint Laurent and more. Scottsdale Fashion Square is also host to exclusive events and unparalleled guest amenities. The multi-level mall is the perfect place to while away the hours on a shopping spree, or even just window shopping. 

Arts and Culture

Scottsdale is home to a bustling arts scene, with an abundance of cultural institutions, museums and galleries calling the area their home. Scottsdale Arts welcomes residents and visitors to experience performing and visual arts from around the world, with programming that spans far beyond being just a theater or museum. Meanwhile, the Scottsdale Museum of Contemporary Art hosts a premier collection of modern works in art, design and architecture. Other specialized locales include the Scottsdale Historical Museum, complete with one-room schoolhouse, and the Fiesta Bowl Museum, dedicated entirely to college football memorabilia.

Dining, Drinking and More

Residents of our communities don’t have to look far to find a bite to eat. On-site at Optima Sonoran Village, Kaleidoscope Juice provides a boost with delicious organic juice and coffee drinks. And just a short walking distance away, the vibrant Downtown Scottsdale dining scene brings flavors to satiate any taste palette. 

The Great Outdoors

With Arizona set in such a gorgeous landscape, it’s only natural that there are bountiful parks and outdoor recreation areas to explore. Scottsdale offers immediate sweeping views of Camelback Mountain with Echo Canyon Trailhead just steps from Optima Sonoran Village, gorgeous greenery at Camelback Golf Course and the Phoenician Golf Course, and just down the road in bordering Phoenix, the Desert Botanical Garden provides a peek at desert vegetation. 

As we continue to expand in Arizona, we look forward to discovering more in our favorite places, and learning about new communities, too. Stay tuned for more neighborhood spotlights on our other Optima communities.

Neighborhood Spotlights: Our Favorite Streeterville Spots

Home to Optima Signature and Optima Chicago Center, Streeterville is one of Chicago’s many thriving neighborhoods. Nestled just north of the Loop in downtown, the Streeterville area intersects the art, culture, food and event scenes of the Windy City. Here are just a few of our favorite spots:

The Chicago Riverwalk

Whether you’re looking for a fun Friday night out or to learn more about Chicago’s history, the Riverwalk is your destination for a good time. Spend an evening at City Winery’s riverside location, hop on an architectural boat tour or go for a quick jog around downtown Chicago. Although best experienced in the city’s warmer months, the Chicago Riverwalk is a fantastic spot for Optima residents, visitors and locals alike. 

The Restaurant Scene

Like the rest of Chicago, Streeterville boasts plenty of amazing restaurants and drinkeries. For a night of fantastic food, The Purple Pig’s tapas, the pasta at Volare Ristorante, or a lobster roll at the Hampton Social are just around the corner. From Sunday brunch to Friday evening date night, Streeterville’s culinary scene doesn’t disappoint. 

Streeterville, with Optima Signature in the skyline
Streeterville, with Optima Signature in the skyline

The Culture

Within Chicago’s vast cultural ecosystem, Streeterville claims a handful of spectacular museums and organizations. The Museum of Contemporary Art, located up Michigan Avenue, is one of the world’s largest contemporary art venues, established in 1967. One of Chicago’s most iconic destinations, Navy Pier is home to the Children’s Museum, the Chicago Shakespeare Theater and events throughout the year, including EXPO Chicago. 

We’re proud to have strong roots in Chicago, and excited to be a contributing part of the Streeterville neighborhood; Stay tuned for more neighborhood spotlights on our other Optima communities.

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