The former Beidelman Furniture building in downtown Naperville has a new owner and a new chapter ahead as a retail and restaurant space.

Ellsworth Partners, a Naperville-based commercial real estate firm, closed on the 17,750-square-foot property at 235-239 S. Washington St. in mid-May for $3.75 million, according to a May 28 report in the Naperville Sun.

Co-founder and partner Matt Calvo said the firm plans to lease all three floors of the landmark building for retail or restaurant use, with offices possible on the third floor.

"We're Naperville people so we want to see uses go in there that the community is going to applaud us for," Calvo told the Naperville Sun.

The Beidelman family announced in April 2026 that they were closing the 165-year-old furniture business. Co-owner Lana Heitmanek cited family members' ages and increasing competition from online retailers.

The purchase marks a pivot for Ellsworth Partners, whose portfolio previously consisted entirely of office properties. Calvo called the Beidelman building "the crown jewel" of the firm's holdings.

The company, founded in 2016 by Matt Calvo and Jim Calvo, has completed over $90 million in commercial development and holds a portfolio valued at $35 million, according to its website.

Ellsworth plans to spend at least $1.5 million on upgrades including new HVAC systems, fire suppression, and plumbing. The second and third floors currently have no restrooms. The firm also intends to reinstall windows on those upper floors, which were bricked over in the 1970s by then-owner Owen "Dutch" Beidelman for energy conservation. The original windows remain behind the brick.

Because the building received city landmark designation on August 20, 2024, any exterior changes on street-facing facades will require a Certificate of Appropriateness from Naperville's Historic Preservation Commission. Calvo said the firm has not yet spoken with the commission but does not expect issues.

Standard Goods, which rents space at 235 S. Washington St., will remain. An adjacent workshop space between the main building and JoJo's Shake Bar is also slated for retail use. That workshop is where Peter Kroehler launched the Naperville Lounge Company, which became Kroehler Manufacturing Co., once Naperville's largest employer.

As of May 28, Ellsworth Partners was in preliminary discussions with potential tenants but had not announced any signed leases. The firm is also hiring an architect for the renovation work and plans to pursue state and federal historic tax credits.