CHICAGO, July 16, 2024 – Cushman & Wakefield announced today that the firm has secured a 30,000-square-foot building at 219 N. Paulina St. for Padel Chicago LLC, which will house the city’s first-ever Padel Club.
Padel is a dynamic sport that combines elements of tennis, squash, and pickleball. Played on a smaller, enclosed court, it encourages both competitive and casual play. Accessible to all ages and skill levels, padel requires minimal equipment and no prior experience, making it easy and fun for everyone to enjoy.
Chip Evans from Cushman & Wakefield represented the main investors, Lakeshore Sport & Fitness (LSF) and Fabian Gosselin, in lease negotiations with building owner Walnut Street Properties.
Lakeshore Sport & Fitness owns and operates large, multi-sport facilities featuring tennis, pickle, racquetball, squash, swimming, basketball and more, while Gosselin is a Chicago venture-capital investor whose family has owned and operated a global hospitality and restaurant company for three decades.
“While padel has seen impressive growth in regions like Europe, there's significant potential for expansion in the U.S.,” Gosselin said. “With strong interest in areas like New York, San Francisco, Los Angeles, Texas and Florida, we believe Chicago is perfectly poised for further growth. We're excited to introduce the city's first-ever padel club and foster a vibrant community around this dynamic sport.”
LSF’s CEO Peter Goldman added, "Our 25,000 members already enjoy various racquet sports, making padel a natural addition for us. With our upscale facilities and prime location, we aim to make padel accessible and enjoyable for everyone. The initial Padel Chicago LLC location will open in the first quarter of 2025, and it will offer five state-of-the-art indoor courts, designed to meet the highest standards of play. Beyond the courts, the club will feature upscale amenities such as private members lounges, locker rooms, a coffee shop and bar, co-working space, and much more.”
“With its location in the West Loop and near Fulton Market, 219 N. Paulina Street is ideal for Padel Chicago’ first location in the city,” said Evans, a Director in Cushman & Wakefield’s Chicago office. “Its access to the city’s prime office markets and affluent residential sector, as well as burgeoning Fulton Market, positions the club for immediate and long-term success. What’s more, the structure, formerly a high-bay industrial building, is perfectly suited for refurbishment to offer the perfect player experience.”
According to Deloitte, padel is the fastest growing sport in the world, with a $2 billion ecosystem.