News
RESTAURANT RAMPAGE
March 9, 2011
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| From pizza to hot dogs to Spiaggia and Avec, Chicagoans love their food. Kudan Group's 11-broker team is leasing or selling about 90 spaces, mostly restaurants and bars throughout the neighborhoods and 'burbs. Yesterday, we snapped Kudan's Rick Loarie, Adam Salamon, Scott Reinish, Becca Lundstrom, Shelby Shariatzadeh, Jarrett Fradin, Mario Ponce, Dave Bennett, Jim Martin after a staff meeting. They just leased The Lakeshore Theater at Belmont and Broadway to LA-based The Laugh Factory, which is (among other acts) performing a multi-million dollar renovation. The brokers are seeing an increase in restaurant rent as we come out of the recession, and also more consumer spendingon entertainment. | |
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| Already 2011 has yielded some new ventures for the group. And the third time may be a charm for the former Hoagie Hut at 2576 N Lincoln, which Kudan Group has sold three times in the last 12 years. The restaurant finally re-opened as Etno Village Grill, a quick service Eastern European restaurant, in January. They've also soldThe Rock Box at 2624 N Lincoln to a private investment group that plans to develop an upscale restaurant and bar with mixologist(sounds like a bartender with a business card). Last week the firm sold Celtic Crown, a popular bar in Lincoln Square as an existing business and they're picking up work in the 'burbs: Kudan just released the 6,800 SF former Nick's Fish Market site at Lake-Cook Plaza to Cafe Abruzzio. |
