Hopleaf owners buy building for new restaurant
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(Crain’s) — The owners of Michael & Louise’s Hopleaf Bar have paid $1.3 million for the former La Donna Restaurant space, about nine months after a deal to buy the same Andersonville building collapsed when they lost their financing.
Michael Roper, co-owner of the popular Hopleaf at 5148 N. Clark St., said he hopes to open a new eatery and wine bar by yearend in the two-story building, next door to his trendy tavern.
The as-yet-unnamed restaurant is to have 90 seats and an outdoor area. The menu will feature Mediterranean-inspired cuisine, an extensive wine list and about 20 American microbrews on tap.
In an interesting twist, Mr. Roper won’t offer liquor, bottled beer or any menu items found at Hopleaf, which opened in 1992 and is known for its Belgian fare and about 200 types of beer.
“It won’t be the greatest hits of Hopleaf,” he says.
The June 24 acquisition of the 3,400-square-foot building at 5146 N. Clark St. is a happy ending to a story that took a painful turn for Mr. Roper. In October, less than two weeks before he was scheduled to close on the La Donna space, Edgebrook Bank withdrew its financing commitment and Mr. Roper lost his $100,000 earnest money deposit.
Mr. Roper got his money back when LaDonna’s owner, Antonella Barbanente, applied the deposit to the purchase price. He financed the transaction with an $865,000 loan from Lincoln Park Savings Bank, according to property records. To pay for construction, which he hopes to begin this fall, Mr. Roper received a $605,500 loan guaranteed by the U.S. Small Business Administration.
Ms. Barbanente, who closed La Donna on July 15, said she plans to open a roughly 90-seat Mexican cantina and margarita bar, called “Deseo” in late September at 6340 N. Clark St., near Devon Avenue. A venture led by Ms. Barbanente, who opened La Donna in 1995, paid $1.39 million for the Edgewater property in December.
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Lots of luck, you'll need it!
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Always a great time and good food at Hopleaf. Best of luck to all parties in their new ventures. Cant wait to check out the 2 new restaurants.
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Best of luck to both of them in their new businesses.
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