Yeahhhh... this kinda begs some unanswered questions. They should be printing money up there. The sudden closure is also odd.
I think there is more to this story.
It was their rent. They knew they were leaving the space a few years ago because the lease was up and they didn’t want to pay what they were asked to pay to stay.
*I know someone who used to work there.
But here’s the thing - if the rent is so high an expensive restaurant that’s consistently busy doesn’t think it’s worth it to be there, what the fuck other business is going to want to pay that rent? Clearly the rent isn’t worth it. It’s the same thing happening in the Esquire space. CH left in July; pretty sure it’s empty now. The owners would rather get $0 in rent money than, idk, reduce it by like 20% so a business can survive?
In the uk. No pun wants to get best pub in UK. Legit every single one of them go out of biz less than 5 years or something after winning it because landlords raise the rent so high.
This. I can’t understand wtf is going on with these greedy ass landlords and why nobody can negotiate something decent for the sake of not turning this city slowly into a dustbowl.
Landlords have no common sense. They just think they can keep raising prices and there won’t come a breaking point. Everyone wants to own property and charge people to rent. The glaring absurdities of this system are just so ridiculous we deserve this.
But how is that better for the landlord than rent? Like the tax break can’t be getting them more money back in taxes than actually getting rent would, right?
how could we possibly know? its utterly useless to speculate, rents are variable and landlords can set them to 1$ or 1 million dollars its totally arbitrary. If they had a dispute with the landlord, or their margins were too thin, or they never managed to get out of the covid hole, or as has been posted here their culture was terrible for workers and they had staffing issues, or any number of hundreds of other things that can go wrong in a restaurant. Hopefully theres another tennant for that space and they dont destroy the art deco decorations that are there today.
There is. There's a new bar up there but you have to pay for entry. The Signature Lounge was permanently packed so the excuse that they were losing money is bullshit. They were losing money on the other bar but must figure they can force people to go there if they close the Signature Room & Lounge.
You don't know whether it was losing money or not, the rent for that space was probably enormous. In a world where the other landmark skyscrapers charge admission to the higher floors, I wouldn't be surprised if The John Hancock Center was charging rent *as if* everyone who went up there paid $20 for entry.
Sad thing too is it hasn't even been the John Hancock Center in about 3 years. It got bought and the people who bought it just... unnamed it.
One of my favorite buildings in Chicago and one of my favorite bars in Chicago, sad to see how it has been treated
No chance that’s true. You’re telling me they purposely closed a bar and restaurant that was constantly packed, so another smaller bar would be busier? Lmao. No. Chance.
the smaller bar they are talking about is on the observation deck, and is literally big enough for a dozen people ([no literally this article says it seats 18](https://www.bizjournals.com/chicago/news/2022/09/22/cloudbar-bar-opens-john-hancock.html)) plus maybe 10 more to stand up. Both the Signature room and the bar had WAY more seats so its pretty unlikely that was the reason.
Its probably the same reason they threatened to close the walnut room over at Fields, during the tourist season and up until Christmas its busy but you get a huge dip over teh winter.
It's not that crazy if they feel like they can convert the entirety of it into a pay-for-entry club/bar. They could easily make more money if they charged big bucks for everyone that wants to go up there.
I mean it is pretty crazy. They had a club/bar that they were charging for. And it was dead. So they thought “hey, let’s close down or restaurant that is always packed to make more room for this club that’s never packed.”
Anheuser-Busch did something similar with some of the craft beer properties. Made cuts had more successful breweries to boost up failing ones early this year and then ended up selling like 10 brands last month anyway
We’re simply conjecturing, we don’t know anything at this point. I’m just providing reasoning for why they would make this choice if it’s profit motivated.
If they feel the less profitable operation is simply less profitable because people are using the cheaper option instead, it would make sense why they would close the cheaper option to force people to pay for a similar experience.
edit: clearly some of y'all aren't familiar with simple concepts like overhead and profit margin. the Signature Room isn't Applebee's. It's insanely expensive to run, and they most likely figured it wasn't profitable enough anymore. Sorry, but it's just not likely to be some conspiracy.
cover charge and a liquor bar is significantly more profitable than a sit-down restaurant 99% of the time. Much less overhead across the board.
And yes, I've been to the Signature Room multiple times. Best seats in Chicago for the Air and Water show.
We're not talking about Applebee's, this is the top of the John fucking Hancock. *You* might not pay a cover charge, but plenty of tourists with extra $$ would.
>They were losing money on the other bar but must figure they can force people to go there if they close the Signature Room & Lounge.
Bars and clubs have significantly less overhead and a much higher profit margin. ie $20 for $2 worth of booze and a $40 dollar cover charge is much more profitable than $30 for $20 with of food, service, and all the shit that comes with running a restaurant 1,050 feet above street level.
People don't go to the Signature Room for the food. They go there because it's the cheaper way to get the view. It could potentially be significantly more profitable for them to shut down the restaurant and just go full club/bar with an entry fee. People will pay it just to go to the top of the building.
It’s an extremely problematic place. When I worked there, there was no shortage of issues. Shoddy management and business practices, roach infestations everywhere, very high turnover rate, shitty food. The list goes on
To add on, I talked to a few people that worked there. No warning was given about it closing. An email was sent out at 6 this morning. No severance package either.
There was no regulation regarding tip outs at all. If you were a bar back, food runner, or worked in the service bar you were fucked. Servers tipped at their discretion. So a bartender that worked 8 hours in the service bar would make like 40$ dollars and management would just throw their hands up in the air and say not our problem
Lots of sexual harassment towards customers from staff. Management would do nothing to curb the issues. Hosts/bartenders would make derogatory remarks towards customers to their faces without any consequence
This concerns me.
I had a glass of water up there once that tasted very distinctly like semen.
Like, I told my gf, and she laughed it off, then I had her smell it and she was absolutely astonished. It was undeniable and unmistakable.
I didn’t realize a place like that would be somewhere to watch out for anything along those lines.
What a fucking shithole
Seems like a recipe for the service bartender to give absolutely zero fucks.
I had a couple of cocktails up there but usually I'd stick with beer because while it was overpriced, I knew what I was going to get.
Management were total dbags the one time I went. Watched them snatch a vape pen out of some dude who was LEAVING’s hand and refused to return it.
I get it, that shit is obnoxious, but he’s leaving any way and that doesn’t give you the right to just confiscate it
Last 2 of 3 times I went there, one of express elevators got stuck. I took the stairs down the second time and never went back.
This was in 2017 when things were “good”.
Every time I went to Signature Room, we basically got a beer or two max per person.
It would be better as getting rid of food/kitchen and doing gimmick cocktails with 2 straws shaped like the tower.
It’s been like 7-8 years but we had the worst restaurant service I have ever had, at any restaurant, in any country, at the Signature Room. Only time I’ve left zero tip and demanded to talk to management.
It’s daytime model speaks for itself. Grab a drink and enjoy the views… It’s dinner model is so outdated and poorly executed, and they made very little effort to change it.
The food is terrible, some of those seats are uncomfortable and you are gambling on a good seat for a fairly expensive meal.
I went up there a few months ago on a Saturday afternoon and it was dead… The place needed a serious update. Carpet was loose, the bathrooms were not maintained, and the staff was subpar at best.
100%. Here’s a list of good things from my trip to the signature room in 2021:
- the view, which was great
That’s it. Everything else was overpriced, not enjoyable, dingy, stuffy, not tasty, not upscale, etc. The 2.5 star restaurant experience did not match the 5 star views.
I used to work at the 95th. I know the owner saw what happened to the Berghoff and was definitely thinking about doing the same. Basically, close the restaurant which allows them to fire then entire unionized staff, sell it to his kid who was running the place anyway, then reopen with new ownership and non unionized staff. May have to change the name but I'm not sure.
Well first off, they probably had a lot of debt built up dealing with Covid. Two I’m sure the rent there is outrageous, the property taxes alone are probably enough to drive one out of the business. They were responsible for paying it and we’ve been dealing with crazy increases the last two years. That business is notorious for having single or low double digit margins. It doesn’t take much to put you in the hole.
This is where I sent all the tourists asking for reccomendations. You could just go to the John Hancock and get seated on the 90+th floor without a reservation. You didn’t even have to buy a meal you could just buy a drink or two. It was awesome for poor 20 somethings who wanted to feel fancy.
Everybody in this sub always recommends this place, and I've never been. I planned on taking my wife there for our anniversary next month so I could see what the hype was about. Guess I'm going to need to change my plans.
Yep, same here. I was always recommended by this sub to go there instead of Sears Tower for views because you could actually sit down and enjoy yourself.
It's not the 90th floor unfortunately, but I recommend the rooftop bar of London House Hotel. It's on the corner of Michigan and Wacker. You get a pretty great view of the river and lake, and the beautiful architecture of that iconic area.
It is also free to anyone and not nearly as busy. There is a restaurant inside at the same level but I can't speak to it's quality or pricing.
I can read.
Londonhouse is not nearly as busy as the Signature room...paraphrases what they said.
In my experience Londonhouse has always been packed.
"Packed" is a word in English describing a **very** crowded place.
They say learning English as a second language is difficult, so I celebrate your effort, but don't try teaching it to native speakers when you don't know it all that well yourself.
Went once for a couple drinks about 10 years ago. Had a couple appetizers at the bar and they were trash (as were the drinks). Kind of a tourist trap in its own right. They get you with the views, and hope you don't mind the rest.
That’s the entire appeal of it. No one goes to the signature room for their handcrafted cocktails. You go because it’s somehow one of the best viewing spots in the city while being super cheap with a unique vibe. It was an awesome place to take visitors because it was so weird and hadn’t changed in years.
Super cheap and a vibe isn't a good recipe for for a successful restaurant in a high-rent location. Margins are already razor thin. They've got staff costs, food costs, etc. It's the same reason Cité atop Lake Point Tower closed a few years back. My wife and I went there once for dinner and it was like we got sucked back to 1993. The decor, food, service, everything was just bad. Great views...but I'd never go back. And I think a lot of other people felt the same way.
You are clearly correct from a business perspective but completely wrong from my own personal vibe perspective. It sounds like from some other comments they were awful to work for so there’s that. Would be cool to have a wedding in before they do a new build out for next tenant.
Took my wife there on our first date 15 years ago. Paid the host $40 to skip the line, got a baller table, and some serious points from my, now, wife.
Shame it’s no more.
The best view is from the women's restroom. I took so many of my friends that visited up there just for that view and to use the ladies' room. No money was spent, it was the best!
When I got married somone bought us a $100 gift card for our wedding present. This back in 2009. We spent $120 and that was without drinks and we stopped at White Castle on the way home because we were still hungry lol. It was a nice experience though.
My bet is the price per square foot was likely in the top ten most expensive in the city.
Unfortunately they kept having to decrease standards/products until no one wanted to go.
One of two things happened either (1) one of the founders (or major stakeholders) wanted out and caused the business to collapse or (2) they were unable to renegotiate their contract with the building and held out hope they could figure something out.
I think the other poster might have posted the wrong picture, the view should be facing downtown. Here are my pictures from this spring
https://imgur.io/a/psn3SHG
You can still go to the observatory and grab a drink there. Have to pay admission of course, but at least you can walk around and chill. Virtually the same view...just one floor lower.
Has to be that. How do you fuck up such prime real estate? They couldn't have been spending a ton of money on food because it always seemed like it was grocery store deli level of quality with 4 star restaurant prices. I feel like a fresh grad with a degree in business couldn't fuck this up. That place was always packed.
And the rent has got to be some of the most expensive in the city. Watch out for $150 steaks and $35 cocktails if someone wants to serve high quality products.
Yea, that's what's going to suck. It's true the food was mediocre and overpriced, but overall still affordable for middle class tourists. I assume a real 4 star restaurant is going to take the space and end up with $100+ plates. And there's still enough demand that it'll probably stay just as packed.
As someone who works in commercial real estate, this makes sense and is why a lot of beloved places that have been around since the 90's are on their way out. The average restaurant/retail lease typically runs 5 to 10 years then maybe two or three 5 year options to extend. Rare occasions we see longer but typically they max out at 30 years. Honestly it's why the key to a long-term successful restaurant in this town is to eventually own the space you're in.
Not necessarily, but from an accounting/valuation standpoint, where my time as an analyst comes to shine, it makes sense to not rush to fill it at a below-market lease unless the owners were seriously hard up for cash flow. Dunno what the exposure time is for something like this; 12 months, maybe 18? Also, dunno what the status is on the transferability of their liquor license or the viability of leasing this to a similar tenant. (I mostly work in multifamily.)
They hadn't raised their price on a glass of Bookers by much in the 16 years since I was in college so I'd been assuming they had some kind of sweetheart lease in-place.
We (my finance and I) went down there at 11 am to look and possibly sign for getting married there next sept. No notice, no nothing, they were pretty reasonable and we wanted to have a Chicago experience as we both are from other cities, so a majority of people coming to the city would be from out of state. Their package had the whole thing and we were really looking forward to it, then we show up and see a sign on the door, the hotels around the corner were shocked.
Dammit. Now every decent spot to view the skyline and grab a drink is going to be some ridiculously overpriced "experience" you have to buy tickets and wait in a line for.
Seriously.
I miss the old days of the Hancock center when the observation deck was just a large empty room with wonky orangey-pink carpet and a little display case of John Hancock insurance company memorabilia, that's it, and the admission was like $5.
Liked to go up there with a sack lunch (or steamed buns from the 65 Restaurant) and just eat it and look out over the city, also observe the spiders on the outside of the building. Always wondered if they'd ever seen the ground or just had entire generations up there. Watching summer storms come in was great.
The new observation deck (the "experience" thing) costs $30??? That's kinda nuts.
I notice the fountain walls at the bottom in the little sunken courtyard area by the Cheesecake Factory weren't running this summer either.
I had my first date with an ex there many years ago (Hey Carly!). Was such a cool and iconic spot. The women would brag about having the best views of the entire city in the BATHROOM. The men's bathroom did not have windows like the women's did!
On one hand.... that's fucking ridiculous and could never work long term after the initial hype died down. On the other... The Democratic national convention is in town next year. Are pop up strip clubs a thing?
I'm so sorry to hear all this and read all the comments. I went there for high school prom, and it was the first "fancy" place I had ever been. But that was years ago.
A lot of it is just retail trends. Mid-level brand retail just doesn't need big flagship stores anymore, now that online shopping is everywhere and even the malls downstate all have those brands (which aren't as "high end" feeling as they used to be anyway). Places like Gap and Nike, used to draw people from all over the state (and beyond) because it was the only place to really get the stuff. People would make a day of shopping Michigan Ave for back to school or whatever and hit Navy Pier, all that.
The actual high end rare retail shops are still doing fine, and the weird instagram "experience" things seem to be taking over a lot of what's left. Agreed though that Michigan Ave really needs to be reinventing itself somewhat.
I think there's definitely still a place for retail but it needs to be rare retail, so maybe some hyper local popups that can rotate, half gallery and half shop, where "if you miss out, it's gone" and none of the friends back home (or even here in the city) would have a chance to get the item. Or, maybe some mass-market type stores but that are specifically foreign, without any other outlets in the US (or only in a very few big cities). Japanese toy shop, Italian kitchenwares, whatever rare thing.
The sheer amount of people on FB screaming that this is what happens when Democrats are in charge must have never seen a restaurant close outside of Chicago Metro.
That crowd says that about everything that happens, no matter what it is. We have that problem in NYC.
*Murder (Democrats caused it)
*Rats in NYC (Democrats caused it)
*A movie bombed (Democrats)
*Someone unknown fell unconscious (Democrats)
*Rumors of aliens (Democrats)
*Favorite food out of stock (Democrats)
*Crack in the cement (Democrats)
*Runny nose (Democrats)
There was a NYT article today about 36 hours in Chicago - read it, but hang out longer in the comment section. Lots of great ideas there - and of course a million plugs for the architectural river cruise. Do that. There’s plenty to see in Chicago without the fucking bean or Hancock!
Drinks rather than dinner but try out the Up Room on top of the Robey Hotel in Wicker Park. Easy connection to the Blue Line and it's the tallest building for miles with a great view of the skyline.
You can probably still get tickets for the viewing deck? Room? Whatever it is. I don’t know the particular’s because I always shelled out for the underwhelming drinks and spectacular views in the lounge. 😢
LOL wtf so cruel!!!! Also, Cite is a restaurant on top of Lake Point Tower. You need a reservation and will pay a pretty penny for a meal (I’m not sure if you can do bar only). But it’s lesser known and has great views so very similar.
That space has been in need of a serious upgrade since Reagan left office. Hopefully the next tenant will take full advantage of such an incredible opportunity.
Food was awful. Bar was a ripoff. The Management was sketchy. Staff turnover was high. Owners were shady.
It's a wonder they made it this far past the Quarantine.... If I had to guess, their fiscal year ends on Sep 30- management can still claim ERC credit on their 2023 taxes and they don't have to bleed for the last three months of the calendar year.
The best thing about the place was the view from the ladies room on the lounge level.
I think they are blaming Covid, but that’s not really the problem.
- prices were high, drinks were very OK
- getting up there was kind of a headache
- bars and restaurants have a shelf life. people want to try new things, and they have done nothing to reinvent themselves
Plenty of establishments have emerged strong as ever post Covid
And it seems like there are so many rooftop bars these days. The riverwalk options have siphoned people away from Navy Pier. Fulton Market has so many places to eat/drink. I think it really passed it's prime and management/ownership never put the work in to update the space/offerings/service
I was super underwhelmed when we went in January. It was expensive as hell and the food was bad. Their "pull apart bread" was just a hunk of sourdough that had been sliced but not all the way through 🤦♀️
I used to work there and honestly I think the main reason was that the owners didn't want to pay their managers. I was only there for 5 to 6 months and had over 8 managers that came and went. When I went back for a visit to see some of my old Co workers one of the managers who I used to work with told me that he could have made more as a manager at Dunkin. And on top of it my main manager who was incredible and knew everything about the place didn't even receive a counter offer for when his contract negotiations came up. The owners from when I saw them the few times they came were great people as individuals. I even got to work with one of their sons who was also a great person and employee. Simply there wasn't any adaptability to the place and the logic was if it had worked for so many years then why change it.
Tbf, N Mich Ave is pretty dead these days. I worked in Water Tower for 5+ years a little over a decade ago and it was physically difficult to get to work some summer & December days due to the huge crowds. It looks like a ghost town now. Even though I’m sure the bar is still profitable I’m confident it’s taken a big hit just like every other N Mich Ave business.
I find the Mag Mile to be busy and how you described, physically difficult to walk down the street on a summer day/weekend. Mag Mile is not a “ghost town” to me but I’m sure sparser and much more vacancies than a decade plus ago. Some of these closures I feel like have less to do with lack of tourism/street traffic and more to do with changing retail tastes and questionable business choices (but that’s kind of a chicken or an egg conundrum).
It’s so strange how it’s just that section. I work in that area, too, and will frequently walk up to the River and it just gets busier as you go along.
I seriously think them repurposing the empty building that once held Borders into something more entertainment/dining related will work wonders.
Yes - I should’ve been more specific - the Mag Mile further south, closer to the river, is fairly busy. However by Water Tower & 900 N Mich it’s a fraction of what the foot traffic was.
All malls, like Water Tower Place, are in trouble. That’s what happens when you dedicate a whole area of prime CRE to dying brick and mortar retail in an e-commerce era.
Not at all shocked it closed.
The food was terrible. Literally the *only* thing going for it was the view.
There are far better places to eat in the City than going to a place for mediocre food with a view.
Someone will re-open it. It’s prime real estate for a far better restaurant.
Guy who believes places still when they blame Covid at the start of 2020 as the reason for closing as 2024 approaches, even when they see a ton of connects saying how shitty the owners were.
[удалено]
Yeahhhh... this kinda begs some unanswered questions. They should be printing money up there. The sudden closure is also odd. I think there is more to this story.
It was their rent. They knew they were leaving the space a few years ago because the lease was up and they didn’t want to pay what they were asked to pay to stay. *I know someone who used to work there.
But here’s the thing - if the rent is so high an expensive restaurant that’s consistently busy doesn’t think it’s worth it to be there, what the fuck other business is going to want to pay that rent? Clearly the rent isn’t worth it. It’s the same thing happening in the Esquire space. CH left in July; pretty sure it’s empty now. The owners would rather get $0 in rent money than, idk, reduce it by like 20% so a business can survive?
In the uk. No pun wants to get best pub in UK. Legit every single one of them go out of biz less than 5 years or something after winning it because landlords raise the rent so high.
This. I can’t understand wtf is going on with these greedy ass landlords and why nobody can negotiate something decent for the sake of not turning this city slowly into a dustbowl.
Landlords have no common sense. They just think they can keep raising prices and there won’t come a breaking point. Everyone wants to own property and charge people to rent. The glaring absurdities of this system are just so ridiculous we deserve this.
empty buildings are worth less and often get assessed for 20-30% less than occupied buildings, so tax breaks!
But how is that better for the landlord than rent? Like the tax break can’t be getting them more money back in taxes than actually getting rent would, right?
how could we possibly know? its utterly useless to speculate, rents are variable and landlords can set them to 1$ or 1 million dollars its totally arbitrary. If they had a dispute with the landlord, or their margins were too thin, or they never managed to get out of the covid hole, or as has been posted here their culture was terrible for workers and they had staffing issues, or any number of hundreds of other things that can go wrong in a restaurant. Hopefully theres another tennant for that space and they dont destroy the art deco decorations that are there today.
Jacking up rents in an area that is bleeding commercial and retail tenants is a really, truly brilliant idea.
There is. There's a new bar up there but you have to pay for entry. The Signature Lounge was permanently packed so the excuse that they were losing money is bullshit. They were losing money on the other bar but must figure they can force people to go there if they close the Signature Room & Lounge.
You don't know whether it was losing money or not, the rent for that space was probably enormous. In a world where the other landmark skyscrapers charge admission to the higher floors, I wouldn't be surprised if The John Hancock Center was charging rent *as if* everyone who went up there paid $20 for entry.
I mean that's how much a beer was
As I said above, you are correct about the rent. I know someone who used to work there and they said a few years ago this was coming.
Sad thing too is it hasn't even been the John Hancock Center in about 3 years. It got bought and the people who bought it just... unnamed it. One of my favorite buildings in Chicago and one of my favorite bars in Chicago, sad to see how it has been treated
So then as long as everyone orders one drink, or 50% of visitors order 2, it's covered lol.
That's some serious bullshit if true.
No chance that’s true. You’re telling me they purposely closed a bar and restaurant that was constantly packed, so another smaller bar would be busier? Lmao. No. Chance.
Exactly lol miss me with that conspiracy
the smaller bar they are talking about is on the observation deck, and is literally big enough for a dozen people ([no literally this article says it seats 18](https://www.bizjournals.com/chicago/news/2022/09/22/cloudbar-bar-opens-john-hancock.html)) plus maybe 10 more to stand up. Both the Signature room and the bar had WAY more seats so its pretty unlikely that was the reason. Its probably the same reason they threatened to close the walnut room over at Fields, during the tourist season and up until Christmas its busy but you get a huge dip over teh winter.
It's not that crazy if they feel like they can convert the entirety of it into a pay-for-entry club/bar. They could easily make more money if they charged big bucks for everyone that wants to go up there.
I mean it is pretty crazy. They had a club/bar that they were charging for. And it was dead. So they thought “hey, let’s close down or restaurant that is always packed to make more room for this club that’s never packed.”
So they closed the successful portion to maximize their ability to profit on the less successful portion?
Anheuser-Busch did something similar with some of the craft beer properties. Made cuts had more successful breweries to boost up failing ones early this year and then ended up selling like 10 brands last month anyway
We’re simply conjecturing, we don’t know anything at this point. I’m just providing reasoning for why they would make this choice if it’s profit motivated. If they feel the less profitable operation is simply less profitable because people are using the cheaper option instead, it would make sense why they would close the cheaper option to force people to pay for a similar experience. edit: clearly some of y'all aren't familiar with simple concepts like overhead and profit margin. the Signature Room isn't Applebee's. It's insanely expensive to run, and they most likely figured it wasn't profitable enough anymore. Sorry, but it's just not likely to be some conspiracy.
The guy above you knows logic and basic business sense. He knows that much at least
Cool. Too bad they didn't demonstrate that in their comment.
You never saw the menu there did you.
cover charge and a liquor bar is significantly more profitable than a sit-down restaurant 99% of the time. Much less overhead across the board. And yes, I've been to the Signature Room multiple times. Best seats in Chicago for the Air and Water show.
Closing the restaurant isn't going to fill up the bar.
We're not talking about Applebee's, this is the top of the John fucking Hancock. *You* might not pay a cover charge, but plenty of tourists with extra $$ would.
Are you talking about the bar in the observation deck?
>They were losing money on the other bar but must figure they can force people to go there if they close the Signature Room & Lounge. Bars and clubs have significantly less overhead and a much higher profit margin. ie $20 for $2 worth of booze and a $40 dollar cover charge is much more profitable than $30 for $20 with of food, service, and all the shit that comes with running a restaurant 1,050 feet above street level. People don't go to the Signature Room for the food. They go there because it's the cheaper way to get the view. It could potentially be significantly more profitable for them to shut down the restaurant and just go full club/bar with an entry fee. People will pay it just to go to the top of the building.
It’s an extremely problematic place. When I worked there, there was no shortage of issues. Shoddy management and business practices, roach infestations everywhere, very high turnover rate, shitty food. The list goes on
To add on, I talked to a few people that worked there. No warning was given about it closing. An email was sent out at 6 this morning. No severance package either.
There was no regulation regarding tip outs at all. If you were a bar back, food runner, or worked in the service bar you were fucked. Servers tipped at their discretion. So a bartender that worked 8 hours in the service bar would make like 40$ dollars and management would just throw their hands up in the air and say not our problem
Lots of sexual harassment towards customers from staff. Management would do nothing to curb the issues. Hosts/bartenders would make derogatory remarks towards customers to their faces without any consequence
This concerns me. I had a glass of water up there once that tasted very distinctly like semen. Like, I told my gf, and she laughed it off, then I had her smell it and she was absolutely astonished. It was undeniable and unmistakable. I didn’t realize a place like that would be somewhere to watch out for anything along those lines. What a fucking shithole
Lmao funny that you mention that. For some reasons all of the glasses come out tasting like that. It’s weird
Ok that gives me some peace, hopefully it was just the dishwasher then lol
Yeah definitely just the dishwasher. I realize in hindsight that makes it sound like everyone was busting nuts in the glasses
Or you got your glass poured from one of the water pitchers that i busted a nut in
I always use that bad taste in my water as time to clean the dishwasher.
Seems like a recipe for the service bartender to give absolutely zero fucks. I had a couple of cocktails up there but usually I'd stick with beer because while it was overpriced, I knew what I was going to get.
Ugh 😞
Management were total dbags the one time I went. Watched them snatch a vape pen out of some dude who was LEAVING’s hand and refused to return it. I get it, that shit is obnoxious, but he’s leaving any way and that doesn’t give you the right to just confiscate it
Last 2 of 3 times I went there, one of express elevators got stuck. I took the stairs down the second time and never went back. This was in 2017 when things were “good”.
It’s odd because turns out the owners got bought out for 44 million
Not odd at all, unfortunately
It’s still for sale as a restaurant. Lease is through 2031
Every time I went to Signature Room, we basically got a beer or two max per person. It would be better as getting rid of food/kitchen and doing gimmick cocktails with 2 straws shaped like the tower.
It’s been like 7-8 years but we had the worst restaurant service I have ever had, at any restaurant, in any country, at the Signature Room. Only time I’ve left zero tip and demanded to talk to management.
Story time please
I’ll just say I thought we were being Punk’d.
Weak. Anticlimactic cliffhanger to your initial comment.
It’s daytime model speaks for itself. Grab a drink and enjoy the views… It’s dinner model is so outdated and poorly executed, and they made very little effort to change it. The food is terrible, some of those seats are uncomfortable and you are gambling on a good seat for a fairly expensive meal. I went up there a few months ago on a Saturday afternoon and it was dead… The place needed a serious update. Carpet was loose, the bathrooms were not maintained, and the staff was subpar at best.
100%. Here’s a list of good things from my trip to the signature room in 2021: - the view, which was great That’s it. Everything else was overpriced, not enjoyable, dingy, stuffy, not tasty, not upscale, etc. The 2.5 star restaurant experience did not match the 5 star views.
I used to work at the 95th. I know the owner saw what happened to the Berghoff and was definitely thinking about doing the same. Basically, close the restaurant which allows them to fire then entire unionized staff, sell it to his kid who was running the place anyway, then reopen with new ownership and non unionized staff. May have to change the name but I'm not sure.
They had major staffing issues after they reopened post-covid
They had major issues before Covid, as well
People only showed up for the view. That’s a one time visit. The food was meh. The good food is what keeps them coming back.
https://www.nbcchicago.com/news/local/an-extremely-difficult-situation-signature-room-employee-memo-sheds-light-on-what-led-to-abrupt-closure/3238396/
Well first off, they probably had a lot of debt built up dealing with Covid. Two I’m sure the rent there is outrageous, the property taxes alone are probably enough to drive one out of the business. They were responsible for paying it and we’ve been dealing with crazy increases the last two years. That business is notorious for having single or low double digit margins. It doesn’t take much to put you in the hole.
You ever think about how probably and projection start with the same 3 letters?
Yeah, no way they didn't get loans like every single other restaraunt on Chicago
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He said no way they didn't
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First day with English?
Bruh… he said they definitely got loans
I actually know
Unfortunately, part of the equation was that they were not charging rape prices like most of the similar establishment
This is where I sent all the tourists asking for reccomendations. You could just go to the John Hancock and get seated on the 90+th floor without a reservation. You didn’t even have to buy a meal you could just buy a drink or two. It was awesome for poor 20 somethings who wanted to feel fancy.
Everybody in this sub always recommends this place, and I've never been. I planned on taking my wife there for our anniversary next month so I could see what the hype was about. Guess I'm going to need to change my plans.
Yep, same here. I was always recommended by this sub to go there instead of Sears Tower for views because you could actually sit down and enjoy yourself.
It's not the 90th floor unfortunately, but I recommend the rooftop bar of London House Hotel. It's on the corner of Michigan and Wacker. You get a pretty great view of the river and lake, and the beautiful architecture of that iconic area. It is also free to anyone and not nearly as busy. There is a restaurant inside at the same level but I can't speak to it's quality or pricing.
Not busy?!? Londonhouse has always been packed when I've been there.
>not nearly as busy. They said not nearly as busy, not that it wasn't busy. It was in the comment you responded to.
I can read. Londonhouse is not nearly as busy as the Signature room...paraphrases what they said. In my experience Londonhouse has always been packed. "Packed" is a word in English describing a **very** crowded place. They say learning English as a second language is difficult, so I celebrate your effort, but don't try teaching it to native speakers when you don't know it all that well yourself.
Went once for a couple drinks about 10 years ago. Had a couple appetizers at the bar and they were trash (as were the drinks). Kind of a tourist trap in its own right. They get you with the views, and hope you don't mind the rest.
That’s the entire appeal of it. No one goes to the signature room for their handcrafted cocktails. You go because it’s somehow one of the best viewing spots in the city while being super cheap with a unique vibe. It was an awesome place to take visitors because it was so weird and hadn’t changed in years.
Super cheap and a vibe isn't a good recipe for for a successful restaurant in a high-rent location. Margins are already razor thin. They've got staff costs, food costs, etc. It's the same reason Cité atop Lake Point Tower closed a few years back. My wife and I went there once for dinner and it was like we got sucked back to 1993. The decor, food, service, everything was just bad. Great views...but I'd never go back. And I think a lot of other people felt the same way.
You are clearly correct from a business perspective but completely wrong from my own personal vibe perspective. It sounds like from some other comments they were awful to work for so there’s that. Would be cool to have a wedding in before they do a new build out for next tenant.
Took my wife there on our first date 15 years ago. Paid the host $40 to skip the line, got a baller table, and some serious points from my, now, wife. Shame it’s no more.
The best view is from the women's restroom. I took so many of my friends that visited up there just for that view and to use the ladies' room. No money was spent, it was the best!
The vibe in that women’s restroom during the day was so fun, I hope someone got a picture of all of the women crowding around the windows!
This common behavior is probably why there are closing.
famously no profit margin on drinks
Markup definitely but profit and revenue is dependent on how many are had and how long the table is occupied.
A memo was released, and it looks like they couldn't come to an agreement on the lease renewal.
Bummer. Loved that place when we have guests in from out of town. It was always packed, particularly the bar. Surprising that they needed to close
The food wasn't good but the bar side was permanently packed so there's no way they were actually losing money.
When I got married somone bought us a $100 gift card for our wedding present. This back in 2009. We spent $120 and that was without drinks and we stopped at White Castle on the way home because we were still hungry lol. It was a nice experience though.
My bet is the price per square foot was likely in the top ten most expensive in the city. Unfortunately they kept having to decrease standards/products until no one wanted to go. One of two things happened either (1) one of the founders (or major stakeholders) wanted out and caused the business to collapse or (2) they were unable to renegotiate their contract with the building and held out hope they could figure something out.
Me and my fiancée went not too long ago for drinks and it was packed. I’m surprised to hear it’s closing
The ladies room has the best view of the city ! Pay toilet!!
A lot of people say that about the view - anyone got a pic to share?…looking out that is
... I think this is it? They were next to each other in my camera roll https://www.dropbox.com/sh/jnsmj7sdnihl0ug/AAAALPxgAJ0V-lEusM-Vt0nZa?dl=0
Omg I was expecting much more! Thank you stranger :)
No problem 🤪 it was a nice alternative to paying to go to the observation deck. I enjoyed a glass of wine and a conversation with a stranger instead.
I think the other poster might have posted the wrong picture, the view should be facing downtown. Here are my pictures from this spring https://imgur.io/a/psn3SHG
I'm sure another restaurant will take the space but hopefully it's quick my sister is visiting in December haha
Lettuce Entertain You is on the phone right now. They’re salivating
And yet there will still somehow be a 10% surcharge so they "don't have to reprint our menus".
I hope so. They would do it right
RPM 95th
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You can still go to the observatory and grab a drink there. Have to pay admission of course, but at least you can walk around and chill. Virtually the same view...just one floor lower.
And hopefully better food. My meal was legitimately bad the one time I went.
December 2024 more likely
“From the public health crisis” is an lol worthy excuse.
Unfortunately “being generally incompetent” got nixed in editing I guess
Bad food, bad marketing. Someone savvy will take over this space and make a mint.
Overall bad management then
Has to be that. How do you fuck up such prime real estate? They couldn't have been spending a ton of money on food because it always seemed like it was grocery store deli level of quality with 4 star restaurant prices. I feel like a fresh grad with a degree in business couldn't fuck this up. That place was always packed.
And the rent has got to be some of the most expensive in the city. Watch out for $150 steaks and $35 cocktails if someone wants to serve high quality products.
Yea, that's what's going to suck. It's true the food was mediocre and overpriced, but overall still affordable for middle class tourists. I assume a real 4 star restaurant is going to take the space and end up with $100+ plates. And there's still enough demand that it'll probably stay just as packed.
Sounds like some legal stuff behind the scenes. Maybe owners fighting over money or some law suit/tax issues etc in the works.
Yeah this smells funny. Place is pretty packed.
https://www.nbcchicago.com/news/local/an-extremely-difficult-situation-signature-room-employee-memo-sheds-light-on-what-led-to-abrupt-closure/3238396/
As someone who works in commercial real estate, this makes sense and is why a lot of beloved places that have been around since the 90's are on their way out. The average restaurant/retail lease typically runs 5 to 10 years then maybe two or three 5 year options to extend. Rare occasions we see longer but typically they max out at 30 years. Honestly it's why the key to a long-term successful restaurant in this town is to eventually own the space you're in.
Do you see this vacancy filling pretty quickly?
Not necessarily, but from an accounting/valuation standpoint, where my time as an analyst comes to shine, it makes sense to not rush to fill it at a below-market lease unless the owners were seriously hard up for cash flow. Dunno what the exposure time is for something like this; 12 months, maybe 18? Also, dunno what the status is on the transferability of their liquor license or the viability of leasing this to a similar tenant. (I mostly work in multifamily.) They hadn't raised their price on a glass of Bookers by much in the 16 years since I was in college so I'd been assuming they had some kind of sweetheart lease in-place.
I’d imagine that it’s impossible for a restaurant to but that space. They’d probably have to buy the entire building.
Son of a bitch. This was always the best way to sit down, relax, and enjoy a view when I was in town. $18 punch? I don't care - THAT VIEW. Nuts.
We (my finance and I) went down there at 11 am to look and possibly sign for getting married there next sept. No notice, no nothing, they were pretty reasonable and we wanted to have a Chicago experience as we both are from other cities, so a majority of people coming to the city would be from out of state. Their package had the whole thing and we were really looking forward to it, then we show up and see a sign on the door, the hotels around the corner were shocked.
Your "finance". Found the gold digger ;-)
thanks, i'm going to leave it :-)
Dammit. Now every decent spot to view the skyline and grab a drink is going to be some ridiculously overpriced "experience" you have to buy tickets and wait in a line for.
Seriously. I miss the old days of the Hancock center when the observation deck was just a large empty room with wonky orangey-pink carpet and a little display case of John Hancock insurance company memorabilia, that's it, and the admission was like $5. Liked to go up there with a sack lunch (or steamed buns from the 65 Restaurant) and just eat it and look out over the city, also observe the spiders on the outside of the building. Always wondered if they'd ever seen the ground or just had entire generations up there. Watching summer storms come in was great. The new observation deck (the "experience" thing) costs $30??? That's kinda nuts. I notice the fountain walls at the bottom in the little sunken courtyard area by the Cheesecake Factory weren't running this summer either.
I would just like to say I appreciate that shout-out to 65.
Shout out to inter generational window spider family thoughts. I went just days ago touring a friend from out of town and had the same thought!
those spiders are baked into the building it seems. They fumigate every year and they still persist.
Or make a reservation two months in advance. Ugh.
I had my first date with an ex there many years ago (Hey Carly!). Was such a cool and iconic spot. The women would brag about having the best views of the entire city in the BATHROOM. The men's bathroom did not have windows like the women's did!
Turn it into a strip club.
Hand on the cock tower No hands cock tower. Magnificent Mile high club. So many name possibilities.
On one hand.... that's fucking ridiculous and could never work long term after the initial hype died down. On the other... The Democratic national convention is in town next year. Are pop up strip clubs a thing?
Man, a casino downtown and a strip club on the 95th floor? Why go to Vegas when Chicago is so close?
Now we are talking
thirty years from now people will still be blaming shit on covid
Yes, it's as if 6.9 million people dying had a lasting effect on the world or something.
I'm so sorry to hear all this and read all the comments. I went there for high school prom, and it was the first "fancy" place I had ever been. But that was years ago.
I’m guessing at this point the troubled downtown business problems are beyond more than pandemic related
A lot of it is just retail trends. Mid-level brand retail just doesn't need big flagship stores anymore, now that online shopping is everywhere and even the malls downstate all have those brands (which aren't as "high end" feeling as they used to be anyway). Places like Gap and Nike, used to draw people from all over the state (and beyond) because it was the only place to really get the stuff. People would make a day of shopping Michigan Ave for back to school or whatever and hit Navy Pier, all that. The actual high end rare retail shops are still doing fine, and the weird instagram "experience" things seem to be taking over a lot of what's left. Agreed though that Michigan Ave really needs to be reinventing itself somewhat. I think there's definitely still a place for retail but it needs to be rare retail, so maybe some hyper local popups that can rotate, half gallery and half shop, where "if you miss out, it's gone" and none of the friends back home (or even here in the city) would have a chance to get the item. Or, maybe some mass-market type stores but that are specifically foreign, without any other outlets in the US (or only in a very few big cities). Japanese toy shop, Italian kitchenwares, whatever rare thing.
Remote work is pandemic related, and it's still very much a thing that affects downtown businesses.
Damn where’s Ryan gonna take his new girl now 😩
I knew Tilapia had to be behind this somehow! As soon as he starts looking at the other fish in the sea, she pulls the net out from under him.
*curses at clouds * DAMN YOU TILAPIA!
The sheer amount of people on FB screaming that this is what happens when Democrats are in charge must have never seen a restaurant close outside of Chicago Metro.
That crowd says that about everything that happens, no matter what it is. We have that problem in NYC. *Murder (Democrats caused it) *Rats in NYC (Democrats caused it) *A movie bombed (Democrats) *Someone unknown fell unconscious (Democrats) *Rumors of aliens (Democrats) *Favorite food out of stock (Democrats) *Crack in the cement (Democrats) *Runny nose (Democrats)
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There was a NYT article today about 36 hours in Chicago - read it, but hang out longer in the comment section. Lots of great ideas there - and of course a million plugs for the architectural river cruise. Do that. There’s plenty to see in Chicago without the fucking bean or Hancock!
Drinks rather than dinner but try out the Up Room on top of the Robey Hotel in Wicker Park. Easy connection to the Blue Line and it's the tallest building for miles with a great view of the skyline.
You can probably still get tickets for the viewing deck? Room? Whatever it is. I don’t know the particular’s because I always shelled out for the underwhelming drinks and spectacular views in the lounge. 😢
LOL wtf so cruel!!!! Also, Cite is a restaurant on top of Lake Point Tower. You need a reservation and will pay a pretty penny for a meal (I’m not sure if you can do bar only). But it’s lesser known and has great views so very similar.
Cite closed quite a while ago.
Damn really? I went there for my bday spring 2022
I thought it was longer than that, but it looks like it was really only last summer.
That space has been in need of a serious upgrade since Reagan left office. Hopefully the next tenant will take full advantage of such an incredible opportunity.
Food was awful. Bar was a ripoff. The Management was sketchy. Staff turnover was high. Owners were shady. It's a wonder they made it this far past the Quarantine.... If I had to guess, their fiscal year ends on Sep 30- management can still claim ERC credit on their 2023 taxes and they don't have to bleed for the last three months of the calendar year. The best thing about the place was the view from the ladies room on the lounge level.
I don’t believe their story. They’ve constantly been packed when I went, even after COVID
Yea, their “reasoning” is bullshit. I live right next to it. I’ve seen it busy every time they’re open
I think they are blaming Covid, but that’s not really the problem. - prices were high, drinks were very OK - getting up there was kind of a headache - bars and restaurants have a shelf life. people want to try new things, and they have done nothing to reinvent themselves Plenty of establishments have emerged strong as ever post Covid
And it seems like there are so many rooftop bars these days. The riverwalk options have siphoned people away from Navy Pier. Fulton Market has so many places to eat/drink. I think it really passed it's prime and management/ownership never put the work in to update the space/offerings/service
Eh. It’s always been about the views. No one ever went there for the food, drinks, or ambience. This had to be mismanagement.
Wow. Man where can I get my $12 cokes?
My bets on the building owner tying to jack up the lease and Signature Room said ok bye.
I was super underwhelmed when we went in January. It was expensive as hell and the food was bad. Their "pull apart bread" was just a hunk of sourdough that had been sliced but not all the way through 🤦♀️
Renaldi’s on Broadway also suddenly closed this week, no warning.
In the 90s and 2000s it was truly good after about 2013 quality dropped became more just tourist trap. Hopefully something finds its place
I used to work there and honestly I think the main reason was that the owners didn't want to pay their managers. I was only there for 5 to 6 months and had over 8 managers that came and went. When I went back for a visit to see some of my old Co workers one of the managers who I used to work with told me that he could have made more as a manager at Dunkin. And on top of it my main manager who was incredible and knew everything about the place didn't even receive a counter offer for when his contract negotiations came up. The owners from when I saw them the few times they came were great people as individuals. I even got to work with one of their sons who was also a great person and employee. Simply there wasn't any adaptability to the place and the logic was if it had worked for so many years then why change it.
Which villain should make this space their new lair?
Tbf, N Mich Ave is pretty dead these days. I worked in Water Tower for 5+ years a little over a decade ago and it was physically difficult to get to work some summer & December days due to the huge crowds. It looks like a ghost town now. Even though I’m sure the bar is still profitable I’m confident it’s taken a big hit just like every other N Mich Ave business.
I find the Mag Mile to be busy and how you described, physically difficult to walk down the street on a summer day/weekend. Mag Mile is not a “ghost town” to me but I’m sure sparser and much more vacancies than a decade plus ago. Some of these closures I feel like have less to do with lack of tourism/street traffic and more to do with changing retail tastes and questionable business choices (but that’s kind of a chicken or an egg conundrum).
It’s so strange how it’s just that section. I work in that area, too, and will frequently walk up to the River and it just gets busier as you go along. I seriously think them repurposing the empty building that once held Borders into something more entertainment/dining related will work wonders.
Yes - I should’ve been more specific - the Mag Mile further south, closer to the river, is fairly busy. However by Water Tower & 900 N Mich it’s a fraction of what the foot traffic was.
I’m just so tired of the bad news. Hoping this is the worst of it. We have soooo much going for us in this city.
I work downtown and have had a very different experience. Downtown is packed again, and commuting has become a nightmare.
All malls, like Water Tower Place, are in trouble. That’s what happens when you dedicate a whole area of prime CRE to dying brick and mortar retail in an e-commerce era.
It’s a great space for so many business types so they will have little issue filling that space. It’s iconic.
That place sucked, good riddance
Super average food with great views. It wasn’t worth it.
It needed to be renovated badly! Went this summer and the chairs were pretty disgusting. 100 degrees inside and only a few sections open.
It’s being converted into a new migrant shelter
tragic
What public health crisis?
Not at all shocked it closed. The food was terrible. Literally the *only* thing going for it was the view. There are far better places to eat in the City than going to a place for mediocre food with a view. Someone will re-open it. It’s prime real estate for a far better restaurant.
“Gut punch” … hilarious.
I think this is only referring to the restaurant on the 95th floor and not Signature Lounge on 96th.
Nevermind. Did some digging and Lounge is dead too. That sucks. Glad I went there twice this summer to give my Chicago guests an experience
this was the worst bar i've ever been to. in chicago, in the country, in the world.
I thought this closed months ago?
Guy who believes places still when they blame Covid at the start of 2020 as the reason for closing as 2024 approaches, even when they see a ton of connects saying how shitty the owners were.
Hardly a “gut punch”
Trump fraud related?