One of the oldest restaurants in Glenview will move to the village’s downtown next year after receiving a $595,000 loan from the village.
After the Village Board approved the loan at its Sept. 3 meeting, Peter Nestos, owner of Spiro’s Deli, said he hopes to be up and running at the new location next summer.
“It’s a perfect fit,” Nestos said of the new location at 1880 Glenview Road, across LeHigh Avenue from the library. “It’s right by where they have concerts in the park, the parades will go by and all their festivals are set up near there.”
“It’s like Mayberry,” Nestos said, evoking the name of the idyllic fictional setting of the Andy Griffith Show.
The plan calls for the existing building, most recently occupied by Best One Hour Cleaners, to be demolished. The new 1,400-square-foot building will have a deli counter, seating for 25 patrons and a small outdoor patio. The deli will extend its hours from 9 a.m. to 9 p.m. at the new location.
The overall cost of the project is estimated at $1.25 million, according to the village.
“It’s going to be all new at the new location,” Nestos said. “Apart from the old employees.”
Nestos said the move wouldn’t be possible without the loan.
“I can’t be thankful enough for the support from the trustees and the president,” Nestos said.
Village President Mike Jenny said Spiro’s Deli is exactly the kind of partner the village is excited about bringing to the downtown.
“Spiro’s is a long-standing local business that wants to be a part of what we’re trying to do downtown and I hope we can do more like this going forward to continue redeveloping the area,” Jenny said.
The $595,000 loan comes from the village’s permanent fund, established in 1996 as part of The Glen residential and retail redevelopment project. In 1996, developers of The Glen gave 20% of the proceeds from the sale of land within The Glen to the permanent fund, which Glenview leaders are entrusted to spend on economic development projects elsewhere in the village, particularly downtown.
The village has given out about $20.5 million in loan guarantees and grants since
the program started.
William Seitz, a resident, spoke in opposition to the loan agreement at the Village Board meeting.
“I have no problem with Mr. Nestos, I have no problem with someone seeking money, but it’s $400,000 of net money that he gets to keep; that’s a pretty good deal. I think other people ought to be offered that,” Seitz said.
Linda Felter, a resident and member of the non-profit organization Friends of Downtown Glenview, said the group was in support of the plan.
“FDG continues to support the village’s use of these non-tax permanent funds to assist the growing number of downtown developments,” Felter said.
The loan will be used to purchase the property and is structured to encourage the restaurant’s continuous operation. Every year Nestos stays in business, the village will forgive another 10% of the loan. But if the deli closes before the 10-year operating requirement, then Nestos will need to repay the remaining loan amount at 6% interest, according to village documents.
Until the new location is up and running, Nestos and his team will keep serving bomber hoagies, poorboy sandwiches, hot dogs and more at 1210 Waukegan Road.
Peter Nestos’ parents Spiro and Catherine Nestos opened the original deli in 1967. When Spiro became sick in 1994, Peter left his job at the Chicago Board of Trade to run the restaurant.
Spiro Nestos died later in 1994 and Catherine Nestos died in 2007.
“They did it for 27 years and I’ve done it for 30,” said Peter Nestos, who calls himself the deli’s caretaker. “I say let’s go for another 30 years.”