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The new Millennium
Centre condominium tower in Chicago’s River North neighborhood
has landed two upscale eateries that will take up more than
half of its 26,000 square feet of retail space.
Developer C.A. Bud Cataldo, who owns the retail portion of
the 33 W. Ontario St. high-rise, said he has leases signed
with Erv Emery, the local franchisee of national fondue restaurant
chain Melting Pot, and Kevin Nierman, who plans to open a
second location of his popular Deerfield restaurant Masck. |
Lease terms were not disclosed. Mr. Cataldo, who is chairman and
CEO of Schaumburg-based hotel management firm Hostmark Hospitality
Group, said both restaurants will open by June.
“We wanted to get just the right mix of restaurants in that
space,” he said. “Both of them have a record of being
very successful.”
Millennium Center will be home to the first Chicago locations for
Melting Pot and Masck. Florida-based Melting Pot has nearly 70 sites
in the U.S., including three in the Chicago suburbs of Buffalo Grove,
Oakbrook Terrace and Schaumburg. Entres range from $17-$19 and fondue
combination dinners start at $48.
The owners of Masck, meanwhile, have just one location in the Deerfield
Commons shopping center. Mr. Nierman, who co-owns the contemporary
eatery with his wife, Michelle, said they were looking to expand
into the city when approached earlier this year by Mr. Cataldo’s
partner, William Marovitz.
“It’s a great space right on the corner of Dearborn
and Ontario,” Mr. Nierman said of the restaurant space. “We
saw it as a perfect opportunity for our restaurant.”
Masck features American classics like steak and seafood.
Neither restaurant owner would disclose revenue projections for
their Millennium Centre sites.
Millennium Centre already is home to a Cold Stone Creamery ice
cream shop, which opened in September, and a Bank of America branch.
Plans are underway for a Subway sandwich shop and tanning salon.
With Melting Pot and Masck, Millennium Centre’s ground level
and concourse retail space is fully leased.
The 60-story condo tower, developed by Chicago-based American Invsco
Corp., is about 94% sold, with units ranging in price from the high
$300,000s to more than $2 million. |