ronnie_suburban wrote:GAF wrote:It must be noted that the spot at which Haussman's was located is not known for nurturing restaurants...As I posted above, those in the know have told me that even though they like the location, the rent in the current Haussmann space is so high it's virtually unworkable.
This is
absolutely accurate. The property owner has quite a bit to do with the inevitable failure of restaurant-after-restaurant in that location. When MK North inhabited that spot, a badly leaking roof was brought to the property owner's attention. "Fix it yourself" was the response- the property owner would not pay for it! Talk about financial hardball...
Care to guess what the monthly rent is for that space? A well known Chicago chef and an investor friend inquired about that space a year after MK North had vacated, and before Pluton took it. They were told
$31,000/month- up from
$27,000/month from the MK North days!
Yes, boys and girls, the property owner cares not who goes in there and how successful they ultimately are. He is the one making big money, not the oh-so-temporary restaurant tenants. Time has certainly shown that, proven by the "can you name the numerous past restaurants that have been there threads" here. Know why Pluton is "reforming" as JP Tavern? He's
locked into a long term lease and loses either way- he may as well try something else till time runs out.
The positives of location, parking, upscale clientel lure in prospective restaurant owners figuring they can make a go of it, despite the huge monthly rent, only to lose the property owner once again. There you have it.