Gibsons Restaurant Group is making plans to open a new restaurant in Chicago's Fulton Market district, a region renowned for its steakhouses. Although the details of the new project are scant, with its debut postponed until late 2024, Gibsons CEO Steve Lombardo hinted it could be an "American concept" tied to the Gibsons brand, according to Eater Chicago.
At first glance, the presence of numerous steakhouses could make Fulton Market seem like an oversaturated market. However, having established Gibsons Bar & Steakhouse in 1989, the group, owned by Steve Lombardo and Hugo Ralli, has since brought forward multiple successful restaurant brands including Hugo's Frog Bar, Quartino, and the ChiSox Bar & Grill at Guaranteed Rate Field. According to Lombardo, they've had their eyes on Fulton Market for a while and aim to offer stiff competition to established names like the Boka Restaurant Group, One Off Hospitality, and DineAmic Hospitality.
Significantly, Gibsons has secured a lease for a spacious 15000-square-foot space at 919 West Fulton Street within an under-construction 400,000-square-foot building, according to an article on ConnectCRE. This allotment allows for the potential establishment of more than one restaurant or bar under the group's banner. Their recent collaboration with celebrity chef José Andrés to launch a set of Chicago restaurants—Bar Mar, Bazaar Meats, and Cafe by the River—is also noteworthy.
The impending opening of a Gibsons restaurant in the historic meatpacking district may spilt public opinion, with some Chicagoans excited at the prospect and others possibly viewing it as contributing to the theme park ambiance of Fulton Market. Yet, it remains to be seen how the new establishment will affect an area already dense with steakhouses.
Gibsons' planned launch coincides with the five-year phase-out of Chicago's tipped minimum wage, as reported in the Eater Chicago article. This regulatory change, initiated by the City Council earlier this month, could lead to a rise in the cost of hospitality labor and potentially affect food prices.
Lombardo, for his part, maintains a positive outlook, and is committed to upholding the standard of service that Gibsons is reputed for, even amidst these prevailing challenges. He is quoted asserting that the company doesn't "know any other way."
The evolution of the dining landscape in Chicago's Fulton Market will continue as Gibsons' new restaurant concept takes shape. Although factors like labor cost changes and the restaurant’s specific impact on the community are still undetermined, the anticipation for Gibsons' next culinary venture is certainly rife. The grand reveal of the new establishment is provisionally slated for late 2024.
