A new restaurant could replace long-shuttered Oliveti’s in Des Plaines

The brick building that once housed Oliveti’s Ristorante in downtown Des Plaines soon could make way for a new eatery.

Entrepreneurs want to knock down the two-story structure at 1575 Ellinwood St. and construct an equally tall, L-shaped building that would be anchored by an 8,200-square-foot restaurant on the ground floor, city documents indicate. Three apartments and storage spaces are planned for 5,400 square feet of space on the second floor.

An outdoor dining area is proposed, too.

The city council on Monday will consider approving a multimillion-dollar economic incentive and development agreement for the project.

Mayor Andrew Goczkowski is excited about the business plan, saying it’s another step toward revitalizing downtown Des Plaines “for generations to come.”

“It’s clear that we are moving forward and seeing real growth and real interest in making downtown Des Plaines a place to be,” Goczkowski said.

The former Olivett’s building is in the 2nd Ward between South River Road and Pearson Street, near the eastern edge of Des Plaines’ downtown district.

The ground-floor commercial space has been unused since Oliveti’s closed in 2012. A country/western-themed restaurant and bar called Firewater Saloon was announced for the space in 2018, but it never opened.

Two limited liability companies — Miner Street Station and D-4 of Des Plaines — are behind the new plan. Partners include the operator of Park Ridge’s Harp and Fiddle restaurant, city spokesperson Brad Goodman said.

Although the name Harp and Fiddle is featured on the facade of the building in an architectural rendering included in city documents, Goodman couldn’t confirm the proposed restaurant’s likely name Friday.

To help pay for the project, the companies are requesting a low-interest loan from the city.

Constructing the new building will cost about $3.6 million, documents indicate, and that’s what the companies want to borrow from the city. The sum doesn’t include the price of the land or demolition costs.

The proposed loan agreement calls for a 10-year repayment schedule with a 3% annual interest rate. However, up to $1.2 million of the loan would be forgiven when the final occupancy certificate for the restaurant is issued, documents indicate.

Monday’s council meeting is set for 7 p.m. at city hall, 1420 Miner St. The meeting will be open to the public and livestreamed at desplainesil.gov.

That session will be preceded by a 6 p.m. closed-door meeting at which the council is scheduled to discuss pending litigation and personnel matters.