The Biz Week That Was: Restaurants thank veterans, new lifestyle hotel, and Fed cuts rates among the highlights
Suburban restaurants thank service members with Veterans Day specials
Lots of suburban restaurants are saluting those who have served and are currently serving in the military by saying thank you with free or discounted meals on Veterans Day Monday, Nov. 11.
Restaurateur in talks to take over former bank in Des Plaines
An entrepreneur behind Des Plaines’ renowned Foxtail on the Lake restaurant is in talks to launch something new in a historic downtown building. Des Plaines officials are negotiating a deal with Foxtail managing partner David Villegas for future operations at 678 Lee St., a three-story marble building that most recently was a Huntington Bank.
Renovations begin for new Hyatt Centric Rosemont hotel
The $25 million renovation of a Hyatt hotel in Rosemont is now underway as part of a rebrand years in the making, aimed at transforming it into a full-service lifestyle hotel. The Hyatt Rosemont Chicago/O’Hare — across the parking lot from the old Rosemont village hall and across the street from Rivers Casino in Des Plaines — closed for renovations last Friday, according to a spokesman for owner/developer Bradford Allen Hospitality. It is scheduled to reopen under the Hyatt Centric flag in the spring.
Elk Grove Village business leader remembered as town ‘celebrity’
Not everyone can say their mother was regarded as a celebrity in their hometown. But Nancy L. Carlson’s three children can. The 84-year-old died Oct. 30 from complications due to Alzheimer's. As involved as she was in her children’s lives, Carlson also dedicated herself to Elk Grove Village over the 58 years she lived there.
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty
The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump's presidential election victory this week. The rate cut follows a larger half-point reduction in September, and it reflects the Fed's renewed focus on supporting the job market as well as fighting inflation, which now barely exceeds the central bank's 2% target.
Finding the right partner: Lisle awaits proposal for Family Square Plaza redevelopment
Another developer is taking a look at the shuttered Family Square Plaza in downtown Lisle, village records show. According to village documents, Green State Credit Union, which owns the property at the southeast corner of Ogden Avenue and Main Street, accepted an offer from a Chicago-based developer on Oct. 8.