Chicago’s iconic Signature Room restaurant abruptly shuts down amid ‘safety issues,’ rising crime

A letter posted by the elevator owners Richard Roman and Nick Pyknis read, "It is with a heavy heart that we announce the permanent closing of our beloved Signature Room at the 95th effective Thursday, September 28, 2023."

"For over 30 years, we have had the privilege and honor of serving Chicagoans and visitors from all over the world," it continued. "Unfortunately, after the closure of our city and restaurant due to the COVID-19 pandemic, we have been faced with severe economic hardship and the challenges have been greater than anticipated."

"From the bottom of our hearts, we want to thank you for your support over the years,” the letter concluded.

A memo to employees from the human resources department obtained by NBC 5, cited new lease terms as the reason. It said, "We are extremely disappointed that new lease terms could not be successful renegotiated with our landlord and, thus, not allowing us to continue our mission at the place we all love. As a result, we are forced to close our doors."

In their own letter obtained by Chicago Business to employees, Roman and Pykins additionally cited safety issues and negative publicity. It said, "Unfortunately, economic issues after the closure of our city and restaurant due to the COVID-19 pandemic persist. Chicago and Michigan Avenue have been slow to recover."

"Safety issues and negative publicity continue to deter visitors to Chicago. All of these issues are negatively impacting the health of our restaurant and are issues that are completely out of our control," the letter said.

Reacting to the news, alderman Brian Hopkins, who represents the Magnificent Mile area, told the Chicago Sun-Times, "This is a real loss to Michigan Avenue and the community. There’s a lot of sentimentality with that place." He added, "My wife and I got engaged there; my sister and my cousin did as well. For generations of Chicagoans, it was the go-to place for a romantic dinner. A lot of people are reacting with sadness that its long, successful run is over.”

The North Michigan Avenue location is suffering under a 30% vacancy rate according to reports. Hopkins noted, "It’s harder than it seems to manage a business in that space and I don’t think the landlord fully appreciates that. It would be a mistake to underestimate the complexity of operating a restaurant in that space.”

The city of Chicago has experienced a spike in crime in the last year. On multiple occasions, large mobs of teens have taken over the downtown streets to cause chaos. In April, two teens were shot on North Michigan Avenue during the riots.

Chicago Mayor Brandon Johnson downplayed the events in August, saying it's "not appropriate" to call the large groups "mobs," but instead referred to them as "trends."