Latest news with #BallyhooHospitality
Chicago Tribune
5 days ago
- Business
- Chicago Tribune
Restaurant Jackman & Co. opens, pays tribute to Glenview founder
There's a very good reason why Ballyhoo Hospitality decided to open its newest restaurant, Jackman & Co., in Glenview. 'Glenview chose us,' explained founder and CEO Ryan O'Donnell. 'They came to Ballyhoo and asked if we would do a restaurant in Glenview. Glenview is a great village and I do have lots of friends who are there.' O'Donnell added that he, his wife Anna, and their children live down the street in Wilmette. The chain already had restaurants nearby in Wilmette, Winnetka, Highland Park, and Lake Forest. O'Donnell noted that he took into account Glenview's plans for redevelopment of the downtown area. 'We created a deal together that allowed us to put a business plan in place that made a lot of sense,' O'Donnell explained. 'They gave us grant money and they also secured a loan.' The Village Board reported the details of the agreement in an e-newsletter sent to residents in September 2023. It included the fact that the redevelopment agreement required the village to prepare the site for construction. It also provides a $1.75 million grant. In addition, the village and Ballyhoo have a loan agreement for $2.25 million to be paid back to the Village at 2% interest over the next 15 years, per a village spokesperson. There is also an intercreditor agreement that details how the village would assume responsibility to pay off Ballyhoo's portion of a second loan from a private bank. It further noted that a 'reverter clause' states that if Ballyhoo doesn't fulfill its obligations, ownership of the land and building would revert back to the village, per village information. O'Donnell noted that Jackman & Co. is fully owned by Ballyhoo Hospitality. The restaurant was named in honor of Edwin Stanton Jackman, a 'founding father of Glenview,' O'Donnell said. 'He was a steel magnate who delivered steel to the railroads back in the 1800s.' Jackman donated a bear fountain to Glenview that has become a beloved symbol of the village. It is also the mascot of the new restaurant named in Jackman's honor. It took a year for Ballyhoo to construct the new building on the space at 1749 Glenview Road. The 5,800-square-foot restaurant seats about 170 inside and 50 outside. O'Donnell reported that Jackman & Co. is a 'British-inspired gastropub that meets the Midwest.' Executive Chef Matt Lehto was not available for an interview. The menu includes British comfort food and Indian aromatics, with such menu items as red Thai curry prawns, battered fish and chips, and British beef roast with duck fat potatoes and Yorkshire pudding. The cocktail list includes such playfully-named selections as 'The Queen Doesn't Need a Passport,' which combines vodka, blackberry, thyme, and lemon. London dry gin with italicus and dry vermouth are served in 'A Happy Marriage.' The bar features an extensive selection of whiskeys. Nonalcoholic selections include, 'If These Walls Could Talk,' a mocktail of strawberry, cardamom, lemon, and ginger. Ballyhoo Hospitality officially started in 2018 but its first restaurant, Gemini, was opened in 2009 in Lincoln Park. There are currently 15 Ballyhoo restaurants in Chicago and suburbs. O'Donnell said that he chooses the location and format of each Ballyhoo restaurant by instinct. 'I don't have a grand plan and I don't usually preplan what I want to put and where,' he said. 'I look for opportunities with different neighborhoods and communities that I like and that I spend time in. I like to be part of the communities that I know will support us.' Myrna Petlicki is a freelance reporter for Pioneer Press.
Chicago Tribune
17-06-2025
- Business
- Chicago Tribune
Construction starts on One Winnetka luxury building after financing secured
After years of proposals that failed to materialize, construction has started on the One Winnetka residential and commercial mixed-use project in the village's downtown after the developer was able to secure financing. Crews recently started demolishing six longstanding empty buildings at the corner of Lincoln Street and Oak Avenue just east of the railroad tracks to clear the way for One Winnetka's planned 59 luxury apartments, to be supplemented with retail businesses. 'We are pleased to see the One Winnetka project move forward and are confident it will be a welcome addition to our downtown business district,' Village President Robert Dearborn wrote in an e-mail. 'The revitalization of this corner of downtown Winnetka is sorely needed and it is great to see construction activities underway.' One Winnetka is now a joint venture of John T. Murphy of the Murphy Development Group and Christopher Merrill, who purchased the property within the past year. Murphy said in an interview this is his first project along the lakefront, but he has observed the One Winnetka situation and sensed it was a good opportunity. 'I've been watching this thing evolve for several years,' he said in an interview. 'I think we have the right formula to get it done and I think that is what is happening.' Murphy and Merrill intend to build 59 one- to three-bedroom units in a four-story building with monthly rents ranging between $8,000 to $12,000. The building will offer 150 parking spaces, a golf simulator, yoga studio and fitness center, private club room and other amenities. Murphy noted there are already approximately 55 people on the waiting list, including professionals who may not be interested in maintaining a single-family residence, along with empty nesters. 'We initially thought this would be for a 50-year-old person and up, (but) I think it will be a little more integrated,' he said. 'That is what our waiting list is showing.' On the retail side, the developers revealed Ballyhoo Hospitality, the operator of two local popular restaurants, will open a Mediterranean concept eatery in the building and Charles Schwab, the financial services firm, will open a branch. Murphy added they have reached agreements with other businesses as they seek to fill out the retail space. They are getting interest from fast casual restaurants, yoga studios, an apparel store, Pilates, cosmetologists, eye care and jewelers, among others. 'COVID shook things up in a way where people are spending more time at home, and as a result the retail environment is thriving,' Murphy said The fact that construction has finally started marks a turning point in a turbulent chapter in village history, as the first iteration of One Winnetka was proposed in December 2012. But nothing materialized, leading to litigation involving the village and a previous developer. Despite the turmoil, Murphy said he was not afraid to enter into the market. 'The community constituency has such a visceral attachment to the village and what happens within it, people want to keep a close eye on things,' he said. A village spokeswoman said the project has a current value of $89 million and that it is expected to increase to $130 million upon completion. The developers secured a $66 million loan for the construction, according to an industry source with knowledge of the situation. Murphy estimates construction will be finished by the end of 2026. 'I've been watching this thing evolve for several years,' he added. 'I think we have the right team and strategy to get it done and I think is happening.'
