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OAK BROOK, IL-Philip Elworth has been named the CFO of Mid-America Development Partners, based here. The position was newly created.

Elworth had been with San Francisco-based the Lurie Co. for 24 years and had been a VP and CFO of the company’s Chicago operations for nine years. “Philip’s more than three decades of finance experience, including more than two decades in the commercial real estate industry, will be invaluable as our business continues to grow,” says David P. Bossy, the company chairman and co-founder. The firm has more than 40 projects, including retail, hospitality and mixed-use, in various stages of development

The Lurie Co. was a family-owned business that decided to close and sell off all of its assets, Elworth tells GlobeSt.com. Elworth was attracted to the newly created position at Mid-America because “there is the challenge of coming in and defining what the position should be doing” and “it gave me the chance to really use all of my skills,” he says. Mid-America created the position after joining with Oakbrook Terrace-based the Harp Group last year to form the Crescendo Cos. “The biggest reason for the need for the position was the merger….which is really what prompted a lot of the growth,” Elworth tells GlobeSt.com.

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