Schaumburg finds British pub concept quite right for Town Square
A British pub-style restaurant named Hop Scotch likely is on the way to a Schaumburg site that has remained vacant since the mid-1990s, when the village embarked on the redevelopment of Town Square at the southwest corner of Schaumburg and Roselle roads.
Behind the proposal is Dipak Lodhia - who previously created the restaurant brands Porto's Peri Peri and Vasco's Peri Peri before they were bought by investors - and his current investment partner, Subbu Iyer.
His other business ventures in Schaumburg led him to come across the long-standing "For Sale" sign on the lot at 40 S. Roselle Road, directly across from the Schaumburg Township District Library.
His vision is for a pub-themed restaurant reminiscent of his native London, but which would have a diverse menu influenced by English, Indian, Portuguese and American dishes.
The already roughly designed building would include two indoor floors, outdoor space on the ground level and roof, and possibly a place for musicians to perform.
"I'd like to get it done by this time next year," Lodhia said, describing a more sedate time frame listed in village documents as a worst-case scenario if delays occur. But even then, an Oct. 1, 2023, opening would be expected.
The 1.7-acre property had recently been listed for $325,000, but Lodhia has entered a contract to buy it from the village for $225,000. Construction costs are estimated at more than $1.5 million.
After closing costs and broker fees, the village expects to make $190,000 on the sale and then receive $120,000 annually in food and beverage taxes and sales taxes from Hop Scotch.
Along with the imminent opening of a Tony's Fresh Market in the long-vacant Dominick's building nearby, Schaumburg officials see Hop Scotch as part of a renaissance for Town Square.
"It's the perfect thing we were looking for there," Mayor Tom Dailly said.
"With two stories, it'll have even greater visibility from Schaumburg Road," Economic Development Director Matt Frank added.
The village board is scheduled to consider approval of a redevelopment agreement with Lodhia and Iyer on March 8.
Lodhia said he's heard that earlier proposals for the site never met with the same enthusiasm, but he didn't have to learn what they were or try to be different from them.
"I must have just come at the right time with the right idea," he said. "When I went in there, I went in there with what I wanted to create."
Lodhia also believes Hop Scotch will differ from his earlier endeavors, which he was persuaded to part from by interested buyers.
"This is going to be mine," he said.