Lake Zurich Hackney's to stay open after land deal dies
A developer has ended its pursuit of the Hackney's restaurant property on Rand Road in Lake Zurich, citing a lack of land suitable for construction, said Mayor Thomas Poynton.
The retreat of Chicago-based UrbanStreet Group means Hackney's will continue a Lake Zurich run that began 46 years ago, general manager Ed Masterson said.
"Hackney's deal with UrbanStreet fell through," Masterson said during a break at the eatery Wednesday. "UrbanStreet pulled out, so the deal's off and Hackney's plans to stay open until they find a different buyer. So, until further notice, Hackney's is open."
UrbanStreet Group had pitched a preliminary plan to demolish the Hackney's building and replace it with a mix of rental apartments and 10,000 square feet of retail development. Up to 231 apartment units were proposed in 2- to 4-story buildings.
A clubhouse and pool also were mentioned as possible amenities at the upscale apartment complex on part of 8 acres at Rand and Old Rand roads.
Mostly one- or two-bedroom units were to be rented, according to a presentation to the village from UrbanStreet Group managing partner Bob Burk.
Poynton addressed UrbanStreet's plan during Monday night's village board session.
"This past week, the brokers for the Hackney's property informed (Lake Zurich) staff that UrbanStreet has backed away from that deal," Poynton said. "It seems that given the detention, retention and wetland needs of the site, there was not enough buildable land to achieve the density that they needed to make the finances work."
Burk could not be reached for comment.
Some Lake Zurich residents who were against UrbanStreet's idea for the Hackney's site remain leery. A petition against the proposal listed several concerns, including the number of apartments, building height, adverse effect on neighboring property values, additional traffic and noise.
Resident Marilyn Cross said while there were "strong and valid" objections voiced to the village board Sept. 8, elected officials still favored going through a formal approval process.
"We will continue to be vigilant as the village might approve a future proposal for the site that is not in the best interests of the adjoining property owners, as well as the residents of Lake Zurich," Cross said.
Masterson said he heard from many customers after they learned the restaurant's days could numbered.
"It was very gratifying to hear from our customers that they didn't want us to leave," Masterson said. "That was heartwarming. However, all good things must come to an end."
Hackney's has been serving its signature hamburgers on dark rye bread in Lake Zurich since 1969.
Masterson's late parents, Jim and Marcella, started Hackney's on Harms Road in Glenview in 1939.