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A 65-year-old Chicago restaurant that was a breakfast favorite has abruptly shut - and people are hammering the landlord
A commercially successful breakfast spot on the suburban outskirts of Chicago closed its doors Sunday after 65 years in business, reportedly because the landlord wanted to cash in.
Peter Gerousis, 43, who co-owned the Cozy Corner Restaurant in Oak Park, said that even though business was booming, the decision to shut down was mandatory.
'The restaurant right now is the most successful it's ever been in 65 years — hands down,' Gerousis told the Chicago Sun-Times. 'But our landlord felt it would be fair to double our rent.'
As he and co-owner Georgia Dravilas were nearing the end of their 30-year lease, the landlord wanted to raise the monthly rent from $8,500 to $17,000 for their retail space on the corner of Marion and Lake Streets.
After talking with other business owners in the area, Gerousis came to the conclusion that he was getting taken advantage of. So he and co-owner Georgia Dravilas started looking for a new space to rent.
Pictured: The Cozy Corner Restaurant in Oak Park, Illinois. After being in business for 65 years, the breakfast joint abruptly shuttered after its owners would have to pay double their current to stay
The two owners, who have known each other for over 25 years, thought they found perfect building to relocate to, and it was less than a block away.
But after spending six months negotiating, the deal fell through.
That's when Gerousis and Dravilas made the difficult choice to call it quits.
'I've been going through the stages of grief, but I've been stuck at the anger stage for a bit,' Gerousis said.
Dravilas' father bought the business in 1994, but after more than 20 years running it, he looked to retire.
In 2015, he privately sold the restaurant to a new owner, who spent roughly four years racking up $500,000 in unpaid taxes.
Because it was a private sale, this person owned 51 percent of the business until the purchase loan was paid off.
Dravilas' father was able to retake the business in 2019, and shortly after, he transferred ownership to his daughter and Gerousis.
'It was an insane amount of debt that we came into,' Gerousis said. 'We didn't even realize what we were walking into but the twine started unraveling.'
Not only that, they took control of the restaurant on right on the cusp of the COVID-19 pandemic, which broke out in March 2020. They relied on carryout orders keep revenue steady.
'There's no way we would've been able to keep our doors open during COVID if it wasn't for the support of everyone in the community,' said Gerousis.
Dravilas, 44, said she'll miss socializing with longtime customers.
'The saddest part about this is the customers,' Dravilas said. 'We have a lot of customers that have been coming here for many years and now they're bringing their grandchildren. I'll miss the interactions with them. No matter in how bad of a mood I can be, seeing them always makes me feel better.'
One customer spoke with ABC7 Chicago about his good times at the restaurant.
'This place was a staple for me when I first moved to Oak Park, ' Colin Knapp said as he ate at the restaurant during its last day of business. 'My son loves it and they know my son around here as well. It's just nice to have a place where you feel like a community.'
Homero Duarte worked at Cozy Corner as a server for 25 years, and while he's sad that a huge chapter of his life is over, he's excited to see what's next.
'I'm grateful for the time I spent here,' said Duarte. 'They've treated me like family here. I'm not sure where I'm going next but I know I'll be OK. At the end of the day, all that matters are the memories I've made here.'
Gerousis and Dravilas have not ruled out reopening the restaurant at a later date, mostly because the community has showered them with encouragement and support.
Nothing is certain, but the two friends' determination is not at all in question.
'We're too young to retire,' Dravilas said.
Customers dine at the Cozy Corner for the last time this past Sunday
While seated at a table inside the restaurant, Colin Knapp called the Cozy Corner 'a staple'
Across America, restaurants have been struggling. One of them is Applebee's, which is set to close up to 35 further locations this year, after closing 46 in 2023
Red Lobster was one of the most high-profile restaurant failures this year, filing for bankruptcy and shuttering over 100 restaurants after pushing an ill-conceived $20 unlimited shrimp deal
Across America, restaurants have increasingly been struggling this year. Faced with higher costs, they have put up menu prices - but that has led to a fall in customers.
Bigger chains like Applebee's, TGI Fridays and Boston Market have have all recently shuttered restaurants, as have smaller chains like BurgerFi.
Red Lobster filed for bankruptcy in May and also shuttered almost 100 restaurants. New owners were announced this week - as it emerged the debt-ridden chain owes $21 million for shrimp alone.
Chains have been worst hit in California where the minimum wage for fast food restaurants jumped to $20-an-hour from April 1.
In early June, Mexican chain Rubio's shut 48 locations in the state and also filed for bankruptcy.
Earlier this month, for example, Fargo's Pit BBQ in Texas closed after more than two decades of serving brisket, ribs and other barbecue classics.
Last month, two classic Bay Area Italian restaurants closed on the same day.