Submarine Express, an icon of downtown Mount Prospect, moving out to make way for bank

A Mount Prospect icon is leaving the village, and instead of getting sandwiches and Italian beef at its downtown home of nearly 40 years, customers instead will be making deposits and withdrawals.

Submarine Express, 2 W. Northwest Highway, will be moving out to make way for a new JPMorgan Chase bank, village officials said Thursday.

The sandwich shop has called downtown Mount Prospect home since 1981, when George and Dee Zoumaras opened the restaurant. The eatery remains in the family, now under the stewardship of son Tom Zoumaras.

"After serving the Mount Prospect community for nearly 40 years, it is with much emotion we have made the decision to close Sub Express this year and pursue other opportunities," Tom Zoumaras said in a statement released by the village.

"My family and I want to express our gratitude to our employees who have been with us through it all, and we thank our customers for being with us on this wonderful journey," he wrote. "It has been a blessing to have their support. I hope you will wish our family well on this new journey."

Zoumaras said Thursday a closing date has not yet been determined.

Village Manager Michael Cassady called the news "bittersweet."

"I respect Tom's decision to close, but we will continue to show him potential sites in downtown Mount Prospect to consider a new Submarine Express," he said. "The new Chase facility will be a strong national anchor at this key downtown intersection."

Chase has been searching for a new location in downtown Mount Prospect for several years to make the move from their current facility at 111 E. Busse Ave. The village said the move will help facilitate the redevelopment of Block 56, which includes the current Chase Bank property as well as the village's police station.

This project is on hold due to the COVID-19 pandemic, but Greystar remains committed to a mixed-use, transit-oriented development, officials said.

The Chase proposal includes the Submarine Express property as well as a portion of a village-owned parcel immediately to the north. It includes plans for a drive-through ATM.

The village is hosting an open house from 5 to 7 p.m. Tuesday, June 9, at village hall, 50 S. Emerson St., to discuss the proposed ATM site at Evergreen Avenue and Northwest Highway.

Construction on the new bank is expected to start later this summer or early fall, village officials said.