Glenview and Chicago-based Ballyhoo Hospitality have entered into another public/private redevelopment agreement to bring a Japanese-style restaurant called, Zenzi Den, to the 1800 block of Glenview Road. The Village is focused on the revitalization of its downtown and the storefront buildings will be demolished to make room for the new eatery.
Village trustees say such deals are a good investment and risk if they spur downtown development and help turn Glenview into a top-notch north shore dining and shopping destination and the taxes that would bring. The Zenzi Den restaurant agreement says the Village will pay the $1 million-plus cost of the property, provide an $875,000 “acquisition loan” secured by a mortgage paid back at 6 % interest over 10 years and a $175,000 “acquisition grant,” a memo from village staff to the Board says.
“There are details that are not submitted,” said William Seitz, who had been in litigation with the Village on another matter. “The owner of the LLC? The budget? How the interest rate was derived?” “It’s not great having to move,” said Barbara Hausheer, owner of the Morning Glory Flower Shop at that location for 20 years and in Wilmette before that. “Hopefully this will be good for the community. We’ll see. We are planning on staying in Glenview.”