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updated: 1/16/2014 7:50 PM

Schaumburg's Rosebud restaurant gets a new owner, will remain open

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  • Rosebud Old World Italian restaurant in Schaumburg has been sold, but its new owner says the eatery will stay open with the same name and menu for the short term. New owner Andy-John Kalkounos said he hopes to have a new brand in place by April 1, but expects it to continue serving Italian cuisine.

       Rosebud Old World Italian restaurant in Schaumburg has been sold, but its new owner says the eatery will stay open with the same name and menu for the short term. New owner Andy-John Kalkounos said he hopes to have a new brand in place by April 1, but expects it to continue serving Italian cuisine.
    George LeClaire | Staff Photographer

  • Rosebud Old World Italian restaurant in Schaumburg has been sold, but its new owner says the eatery will stay open with the same name and menu for the short term. New owner Andy-John Kalkounos said he hopes to have a new brand in place by April 1, but expects it to continue serving Italian cuisine.

       Rosebud Old World Italian restaurant in Schaumburg has been sold, but its new owner says the eatery will stay open with the same name and menu for the short term. New owner Andy-John Kalkounos said he hopes to have a new brand in place by April 1, but expects it to continue serving Italian cuisine.
    George LeClaire | Staff Photographer

 
 

The Rosebud Old World Italian restaurant in Schaumburg has been sold and will soon have a new identity, but in the short term, customers aren't likely to notice many changes.

New owner Andy-John Kalkounos said Thursday the restaurant will remain open as Rosebud for the near future as he makes improvements both in and out of the building, located at 1370 Bank Drive. The only major operational change is that the restaurant won't be open for lunch during this period, he said.

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"I hope to have the new brand in place on or before April 1," Kalkounos said. "Until then, we'll be open for business -- we won't miss one day."

Kalkounos added that he is retaining virtually all of the restaurant's existing management and staff. A couple of employees left to continue working with the Rosebud restaurant group in Chicago, he said.

Chicago-based Rosebud Restaurants confirmed Thursday that it had sold the Schaumburg location, which it had operated for about seven years.

"It was a great location and we loved being there, but when we were approached we thought it made sense to sell it back," Rosebud spokeswoman Yvonne Contreras said.

In an open letter released to the media, the company thanked Schaumburg customers for supporting the restaurant.

"It has been a pleasure serving you the past seven years. With pride, we say goodbye to the space on Bank Drive and the wonderful memories made there," the letter said.

Kalkounos is not a stranger to restaurant ownership. He currently co-owns, with his father, the Chicago Prime Steakhouse on Algonquin Road in Schaumburg. He said he is the sole owner of the Rosebud building.

He won't reveal exactly what the restaurant's new identity will be, but he said it will likely continue to be an Italian restaurant.

"This is a venture I'm doing on my own, and I'm really excited about it," he said. "The customers who have supported Rosebud all this time can continue to do so, and everyone should be thrilled by what we do in the future."

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