Development
Chicago
Two new restaurants slated for St. Regis Chicago
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Adalina’s owners aim for top with lease at old Barney’s building
Deal for former Fred’s location settled before concept in place for investors’ next Gold Coast offering
Sometime’s a cliche explains so much — as in “location, location, location.”
Indeed, that old real estate adage explains why one of Chicago’s best-known restaurant groups has decided to take the top floor of the old Barney’s building even before it’s even come up with a dining concept for the spot, CoStar reports.
“I love the Gold Coast neighborhood and the atmosphere it brings,” said Phil Siudak, a partner in the new restaurant, which has booked the nearly 12,000-square-foot 6th floor of the property at 1-15 East Oak Street.
Sudiak is one of four partners — with Miles Muslin, Jonathan Gillespie and Matt Deichl — who backed Michelin-star chef Soo Ahn at Adalina, a popular high-end spot about a block away from their pending venture. Deichl also is the founder of BDG Hospitality, owner of the LiqrBox and Bounce Sporting Club
Siudak said Fred’s, a popular restaurant that occupied the space during the building’s heyday as the Chicago outpost for the Barney’s retail chain, was a favorite of his for its atmosphere as well as its food.
“We as a group have always loved the Fred’s space,” Siudak said. “We used to dine there frequently.”
The terms of the lease on Oak Street were not disclosed, but it is set to start about a year from now, giving the partners time to work up a concept for the space.
The Gold Coast and its main commercial thoroughfare of Rush Street has seen various new and reformatted restaurants in recent years, while shedding a number of long-familiar names such as Fred’s
Phil Stefani’s Tavern on Rush recently shuttered on North Rush, with a new restaurant planned there, and the nearby longtime home of Carmine’s Bar & Lounge is slated for teardown to make way for a two-story structure will house a new Carmine’s
– Andrew Terrell
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