Freed executives are looking into their options but have not yet announced any definite redevelopment plans. However, the Palatine, IL-based firm has experience in urban retail in Chicago and other cities where it owns centers. Freed's 11 million-sf portfolio also consists of suburban open-air centers, such as the 630,000-sf Streets of Woodfield specialty center in Schaumburg, IL. Paul Fitzpatrick, managing director at Freed, spoke with GSR about the firm's plans for One South State St. at the International Council of Shopping Centers' Chicago Deal Making conference this week.

GSR: What is the firm's main agenda at ICSC's Chicago Deal Making conference this week?

Fitzpatrick: Our main focus is identifying users for large mixed-use projects. In addition to the development at One South State St., we're beginning some very large mixed-use projects in the Denver market and continuing some in the Ann Arbor market. That's our main focus, mixed use being defined mainly as retail and residential, other that South State, which is retail and office.