Chicago Ridge Mall has new owner

By Bob Bong

Southland Savvy

Chicago Ridge Mall opened in 1981 on the former site of the Starlite Drive-In Theater, which had closed in 1979 after a three-decade run. It was expanded in 1986.

It has had several owners over the years including the Lenhdorff Group, which bought the mall in 1986 and turned around and sold it to JMB Realty a year later. It was owned by the Westfield Group from 2004 to 2012 before it was acquired by Starwood Capital Group.

Last week, the mall was sold again, this time to Florida-based Second Horizon Capital.  Financial terms were not disclosed.

The sale came after Miami-based Starwood Capital Group missed a $76 million debt payment on the property last year, according to Crain’s Chicago Business.

Tenants at the 592,000-square-foot property include Dick’s Sporting Goods, Kohl’s, ALDI, and AMC theaters. It is about 80 percent leased.

“Chicago Ridge Mall is already a valued amenity for its community and the surrounding area, which presents an exciting opportunity for our company,” Howard Levine, co-founder and managing partner of Second Horizon Capital, said in a release. “Our objective is to enhance Chicago Ridge Mall as a go-to retail destination and inclusive economic driver for the region.”

Based in Boca Raton, Second Horizon plans to provide "significant incremental investment" to the mall, according to the release. It also noted the company has engaged JLL for ongoing property management and leasing services at facility.

Starwood’s difficulties with Chicago area retail extend beyond Chicago Ridge Mall. It surrendered the Louis Joliet Mall via deed-in-lieu of foreclosure in 2020.

For Second Horizon, Chicago Ridge Mall is the firm’s fourth acquisition, since its founding in 2021, and its first in the Chicago area.

End of an era this weekend for Teehan's Tavern

By Bob Bong

Southland Savvy 

Teehan’s Tavern in Tinley Park will be closing at the end of the day on Sunday, March 3.

The 171-year-old building that has been home to the iconic tavern for more than 100 years will be razed in March to make way for the village’s Harmony Square development.

The plan is to then build a modern replica of the tavern on the same spot as part of the Harmony Square project.

To commemorate the end of an era, Teehan’s is holding a Tribute Fest from Thursday, February 29, to Sunday, March 3. There will be live music inside the tavern as well as in a tent. Performers will include Liam Durkin, John & Sean, Todd & Friends, Katie Sullivan Band, Billy’s Boys, and Chris & Andy.

The highlight of the weekend will be the 24^th annual Irish Parade down Oak Park Avenue at 1 p.m. Sunday with WGN’s own Bronagh Tumulty as the Grand Marshal.

Ahead of that, there will be an Irish Wake at 2 p.m. on Saturday so fans can visit Teehan’s one last time and enjoy Irish music, food and drink, and relive memories.

The folks from Durbin’s took over Teehan’s in October and will operate the new Teehan’s when it opens, which is hoped to be next February.

Joey’s Red Hots to open Monday in Orland Hills

Joey’s Red Hots will open its seventh location on Monday at 9135 W. 159^th St. in Orland Hills. (Photo by Steve Neuhaus)

By Bob Bong

Southland Savvy 

Co-owner Anthony Nardo is not one to miss an opportunity to expand the reach of the Joey’s Red Hots empire.

The Orland Park-based chain of restaurants has set Monday, February 26, as the opening date for its newest Joey’s location, in Orland Hills.

Nardo and his partner Nick Iozzo jumped quickly when the latest location at 9135 W. 159^th St. became available in October after Chicken-N-Spice closed.

“It was brought to our attention it was available and we fell in love with it,” Nardo said. “I think this location will do very well. It’s on 159^th Street.”

He said there was some remodeling. “We had to make it our own. Joey’s has a brand,” he said.

The newest Joey’s will be the second to offer a drive-thru. The first was the location in Riverdale, which opened in 2022. All locations offer carry-outs, dine-in and patio seating.

Orland Hills will feature a full menu, including pizza slices.

The chain will now have seven locations: the original site at 17400 S. Wolf Road in Orland Park, New Lenox, Crest Hill, Chicago’s Morgan Park community, Justice, Riverdale, and Orland Hills. Gaming machines are available where legal. The company also operates eight food trucks.

The restaurant will employ from six to eight employees.

Hours at the new location will be 10:30 a.m. to 10 p.m. daily to start. “We might stay open until midnight on weekends,” Nardo said.

For information, visit their website at joeysredhots.com, or check out their Facebook page at Joey’s Red Hots.