Ed Debevic’s and their infamous snarky waitstaff will be packing up shop at the Chicago River North location and moving elsewhere – so the space can be used for a brand new high-rise.
Crain’s Chicago Business reported Friday JDL Development has inked a deal to purchase and remove the retro-themed diner at 640 N. Wells St. and replace it with either condos or apartments.
In the meantime the restaurant has been searching for a new spot in River North to serve their 1950s-style burgers, fries and shakes with a side of trademark sassy comments, Crain’s reports.
Ed Debevic’s at the corner of Wells and Erie Streets has been a mainstay in Chicago’s neighborhood of River North for more than three decades since its 1984 open, and is the latest restaurant to give out to developers who eye single-story buyouts as the area’s real estate values continue to skyrocket.
Across from Ed Debevic’s storefront at 633 N. Wells, Chicago staple Gino's East pizzeria is set to be replaced by a 444-unit apartment tower, Crain’s reports, as well as the Howard Johnson Inn at 720 N. LaSalle which will soon house 298 brand new apartments.
"As our famous saying goes, 'Eat and Get Out.' I can confirm that it is likely Ed Debevic's will be leaving its current address at 640 N. Wells Street, at some time later in the year," said Jeff Himmel, for Debevics, LLC., which owns Ed Debevic's. "We're currently looking at locations closer to Michigan Avenue. We invite our fans to join us in our final days at the corner of Wells and Ontario."
Crain’s reports it has not been released how much JDL invested for the Ed Debevic’s property, but it is safe to say it will be a much larger figure than the $4.5 million the building's owners paid for it in 2005.
