Razny Jewelers is turning its longtime Oak Street address into a full-on Gold Coast stronghold, buying the 7,500-square-foot, three-story building at 109 E. Oak Street that it has leased since 2016 and laying the groundwork for a sizable expansion. The family-owned retailer plans to merge the newly acquired parcel into a single, enlarged Oak Street flagship that will blend showrooms with private event space, more than doubling its footprint on the block and carving out dedicated zones for bridal jewelry and high-end timepieces.
According to Crain's Chicago Business, Razny announced the purchase of 109 E. Oak but kept the sale price under wraps, and the deal had not yet appeared in online property records as of Friday afternoon. Crain's reports that Razny has leased the building since 2016 and that the property's longtime ownership group dates back to the 1930s.
"Our focus has always been on delivering an elevated shopping experience built on expertise, personal service and value," Stan Razny told Crain's Chicago Business. Permit filings reviewed by the outlet show that work at 109 will include constructing a three-story atrium and a new facade, and that Razny secured a permit to demolish the three-story masonry building at 107 E. Oak. The company plans a new four-story structure next door that would connect to 109. Crain's reports that Razny expects to start construction in spring 2026 and that the combined Oak Street location will feature a bridal showroom, a dedicated two-story Rolex space and a fourth-floor event room.
Why Oak Street
Razny bought the neighboring 107 E. Oak in 2024 in a deal reported at about $16.4 million, according to The Real Deal. The Oak Street Council, which represents retailers and restaurants on the block, promotes Oak Street as a tightly packed luxury shopping strip and lists Razny among its members on its district site, Oak Street Chicago.
What Comes Next
Razny continues to run other locations, including a flagship in Addison and showrooms in Highland Park and Hinsdale, while the Oak Street buildout works its way through permitting, according to the company website. Customers and neighbors can expect to see construction activity once permits are finalized and work starts in the spring, with Razny and city permitting ultimately determining the project timeline.
