Chicago’s Heaven on Seven restaurant for sale

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The 2,770 square foot space in the Garland Building at 111 N. Wabash Ave. is listed at $450,000. It comes complete with furniture, fixtures and equipment, according to @properties principal broker Larry Cohn. For an additional $100,000, the buyer can purchase the Heaven on Seven business, including its name, logo, and recipes.

“I would really like to keep it, but I don’t see it happening,” Bannos said. “It was very difficult for me to do it at first, but now I’m ready.”

Bannos, now 63, was in his early twenties when he opened Heaven on Seven with his parents and brother in February 1980. Passionate about New Orleans, Bannos developed recipes for po’boys , okra, and other Cajun staples that have drawn tourists and business customers alike. the Garland Building and up to the restaurant. Bannos and his father worked in the kitchen with the cooks, while his brother and mother worked in the front of the house.

“You had to enter the building and come to the seventh floor, which is why it was a gem,” Bannos said. “It was always a very good meeting place.”

The pandemic has changed that, of course. Bannos sold take-out meals throughout, but the pickup point was on Michigan Avenue in River North at Purple Pig, where his son, Jimmy Bannos Jr., is a chef. Bannos Sr. knew people wouldn’t want to get into an elevator during the height of COVID-19 to collect their food.

Business dinners were the bread and butter of Heaven on Seven, and many have yet to return to the office in full force, Bannos said. The Chicago Loop Alliance reported office occupancy in February was 33.5% of 2019 levels.

Still, Cohn hopes the chance to buy a fully built restaurant a block from Millennium Park is enticing. The space includes the 2,300 square foot restaurant and an adjacent 466 square foot office.

If the buyer decides not to resurrect Heaven on Seven, the establishment will join an ever-growing number of restaurants succumbing to the wounds of the pandemic. In 2020, 855 Chicago restaurants closed, up 60% from 2019, according to market research firm Datassential. Last year, 661 closed.

Many industry operators are still scrambling to recoup losses from months of forced indoor restaurant closures and the regulatory rollercoaster that followed. The omicron variant, which hit at what is usually the most lucrative time of year for restaurants, also knocked foodservice establishments down a few notches.

The result is a culinary landscape that has been irrevocably altered and continues to change, even with the lifting of COVID restrictions.

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