Alinea, a home sale, and new ventures: Nick Kokonas’ recipe for change

Nick Kokonas, the co-founder of Alinea, grew up as the only child of American Greek parents. Their dreams of him becoming a successful lawyer were dashed when Kokonas blazed his own path to success. Nick Kokonas carved out his journey as a derivatives trader, tech entrepreneur, author, and co-founder of a three-Michelin-star restaurant, and what, according to the James Beard Foundation, is one of the world's best restaurants. Now, seeking a new challenge, he is making significant changes.

In September 2024, Kokonas decided to step back from Alinea's daily operations. While he will remain a passive investor in the restaurant group, he no longer wants to be involved in the hands-on work that had defined much of his career.

After his success with Alinea, Kokonas shifted focus to technology, co-founding Tock in 2014. Tock has revolutionized the way restaurants manage reservations and enhance customer experiences. The platform enables restaurants to sell event tickets, manage pre-paid dining experiences, and adjust pricing according to demand.

Nick Kokonas sold Tock to Squarespace in 2021 for over $400 million. He remained involved with the company as CEO until he stepped down in January 2023. Later, in 2024, American Express acquired Tock from Squarespace.

The decision to step away from Alinea and sell Tock marks the beginning of a new chapter in his life. Selling the family’s house was a natural next step, a symbolic shedding of his previous life in Chicago as he focuses on new projects.

The sale of his Chicago home, listed at approximately $5.5 million, with its architectural beauty, unique design, and cozy “fire cottage,” symbolizes more than a financial transaction. It marks his readiness to embrace what lies ahead.

Located at 229 W. Eugenie St. in the Old Town neighborhood, the estate was more than just a residence. It is a masterpiece, blending history with modernity, designed to reflect Kokonas' unique taste and style.

The property consists of two 19th-century houses, each with its own distinct character, connected by a glass bridge that creates a seamless transition between the old and the new. The property's layout is as innovative as the man behind it, with the two houses offering distinct spaces that merge effortlessly into one cohesive living environment. This design captured Kokonas’ appreciation for architecture and mirrored his approach to business, where traditional elements and cutting-edge ideas coexist to create something truly unique.

One particularly charming feature of the property is the "fire cottage,” which is a cozy, intimate space that evokes a rustic, retreat-like atmosphere. Centered around a fireplace, it creates a warm and inviting ambiance, offering a peaceful escape. The space contrasts with the sleek, modern design of the rest of the house. The fire cottage serves as a relaxing and intimate retreat within the home, perfect for unwinding and thinking. It must have been useful to Kokonas in his career, as he sought ventures with new opportunities for growth and innovation.

While his influence will continue to be felt at Alinea, his focus has shifted toward new ventures. It’s clear that Kokonas, a man who has spent much of his career pushing boundaries, is not slowing down, but rather reinventing himself again. The future promises to be filled with new opportunities for growth and innovation.