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INVEST South/West Award winner!

© 2022 KOO LLC


Development Initative

Thrive Exchange is a transformative, $100 million community investment at 79th Street and Exchange Avenue led by Thrive Exchange Partners - DL3 Realty, Chicago Family Health Center, NHS Chicago, and Revere Properties. A finalist in the $10 Million Pritzker-Traubert Chicago Prize competition, this equitable transit-oriented development project addresses three critical needs in our community: access to health care, quality affordable housing, and financial stability. Led by experienced partners with deep roots in the community, Thrive Exchange is composed of luxury workforce housing, new retail businesses, and a new state-of-the-art health care center. The first phase of this project was selected by the City of Chicago through an INVEST South/West competitive funding award in 2021. If awarded, the Pritzker Traubert Foundation Chicago Prize would include a health care center, additional housing and retail space helping to create a ripple effect throughout the community.


This project will REIMAGINE, REVITALIZE, and REINVEST in South Shore and South Chicago.
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DL3 Realty will develop and own two new, mixed-use buildings which will include approximately 76 luxury workforce apartments located immediately adjacent to the Cheltenham 79th Street Metra Station. DL3 Realty is one of Chicago’s most active community developers and is the developer of the project master plan.

Neighborhood Housing Services (NHS) Chicago will provide homeownership and financial counseling to area residents and clients of Chicago Family Health Center. NHS will also work with emerging local developers to pursue offsite development on nearby lots.

Revere Properties will construct 24 new condominiums on the west side of Exchange Avenue across from the new Chicago Family Health Center - South Shore. The for-sale condominiums will feature accessible housing units with ground level, first floor units and a mixture of 2- and 3-bedroom units.


Chicago Family Health Center (CFHC) - South Shore will locate its seventh medical center in the historic Ringer Building located on Exchange Street just south of 79th Street. This location will serve an expected 15,000 patients per year with comprehensive, affordable access to primary health care for families, dental, chronic illnesses, behavioral health, and prescriptions. Chicago Family Health Center, founded in South Chicago, has served the community since 1977. 

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© 2021 KOO LLC



Seven thousand square feet (7,000 SF) of new retail space will be provided in the new mixed-use buildings on the north and south sides of 79th Street providing critical community-centric goods and services and new jobs.

Exchange Crossing

Exchange Crossing at the south west corner of 79th and Exchange is an 8,500 SF retail center which DL3 will modernize with a new look, upgraded landscaping and community focused shops and restaurants. DL3 is engaged with a restaurant, child care provider and coffee bar.

Pipeline to Health Care Careers

Chicago Family Health Center hires its staff from the communities where they are located. The 20,000 SF health center will employ approximately 50 clinical and support staff including doctors, nurses, administrators, and maintenance staff in an area which currently has very limited employment options.


Through a partnership with the National Institute for Medical Assistant Advancement (NIMAA), CFHC will host and provide onsite student training for eight months before being placed into permanent positions.

New Non-profit Organization

The Chicago Prize fund will seed a new non-profit organization with capital to co-invest in-fill residential projects, including for-sale single-family homes, condominiums, and small multi-family projects. The non-profit organization will focus on economic development efforts along the 79th Street corridor between Stony Island Avenue and Lake Michigan. It will be the lead convener focused on 7th Ward real estate and economic development in partnership with Ald. Gregory Mitchell.


New 20,000 SF healthcare center serving 15,000+ patients per year
100+ permanent jobs 
high-quality health care jobs
retail, property management, & entrepreneurship
300+ construction jobs
76 new luxury workforce apartments and 24 new for-sale condominiums
New restaurants and shops that will enliven the street 
Homeownership and financial counseling, personal health, and illness prevention


Sherry Pace, MBA
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Chief Executive Officer

 Chicago Family Health Center 

Leon I. Walker, Esq.
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Managing Principal

DL3 Realty

Anthony Simpkins
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President and Chief Executive Officer 

Neighborhood Housing Services of Chicago, Inc.

Lee Reid
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Revere Properties


Pritzker Traubert Foundation Chicago Prize 2022

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The South Side Drive Magazine

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Tania Kadakia

Director of Partnerships & Residential Investments

DL3 Realty

Alex Sparhawk, Esq.

Director of Acquisitions and Developmen

DL3 Realty

J. Andrew Stables

Development Associate
DL3 Realty

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