The Midtown Exchange is a large commercial building located in the Midtown Phillips neighborhood, in Minneapolis, Minnesota, United States. It is the second-largest building in Minnesota in terms of leasable space, after the Mall of America. It was built in 1928 as a retail and mail-order catalog facility for Sears, which occupied it until 1994. It lay vacant until 2005, when it was transformed into multipurpose commercial space.