Story posted Wednesday, June 10, 2009
Village Hopes To Fill Empty Bakers Square Site
By RICHARD MAYER Assistant Managing Editor
Mt. Prospect's Bakers Square restaurant is closed, but discrepancies remain on exactly when the Rand Road eatery shut down.
According to Director of Community Development for the Village of Mt. Prospect Bill Cooney, the eatery closed at the beginning of this year.
Catherine Kaufman, director of marketing for American Blue Ribbon Holdings, LLC, who purchased the Bakers Square chain in March, said the restaurant closed May 28, 2008.
One thing both parties agree on is why the establishment closed at the busy intersection of Kensington, Rand and Elmhurst roads.
"It was an underperforming asset," said Kaufman.
The Bakers Square brand as a whole was recently involved in Chapter 11 bankruptcy, closing other restaurants nationwide.
According to Cooney, the 6,000 sq. ft. Mt. Prospect location was a mainstay for 20 years.
"We have talked to prospective restaurateurs about upgrading that site, if they should take over," said Cooney. "I am hopeful a lease will be signed in the next 90 days with an opening sometime in the fall."
Cooney said most of the calls he has received inquiring about the property have been from restaurants since infra structure is already in place.
Kaufman said her company does not own or lease the property. An independent landlord is in charge of filling the vacant space. Cooney said while in business, Bakers Square generated under $10,000 in sales tax monies for the village on an annual basis.
"If there is no drive thru component for the next business that moves in there, all they will need are permits and no board approval," added Cooney.
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