Massive Job Cuts, Billionaire Visits New Business, Burger Chain Closes Location: IL Business News

ILLINOIS — A popular burger joint is getting ready to close up shop, while another local eatery's future is much more murky.

Plus, a Jewel-Osco store sold a winning lottery ticket, and a local historical society is planning major moves.

Meanwhile, a wine festival is returning for its 43rd year.

Here's a look at this week's biggest business news across the Chicago area.

400+ Jobs Cut At Northwestern University Amid Budget Crisis

More than 400 jobs will be eliminated due to financial strain and an ongoing budget crisis at Northwestern University.

Billionaire To Visit Suburb For Shop's Opening

A "high-end" sports memorabilia and card shop is being launched in town.

Burger Chain Permanently Closes Suburban Location

Fans of the gourmet burgers and bottomless fries still have a few weeks to enjoy them at the location.

Future Of Restaurant Unclear As 1-Year Anniversary Approaches

Employees say the closure — which is temporary, according to the restaurant's website — was done "abruptly and unexpectedly." The closing comes as the website remains live and continues to promote an anniversary celebration on Aug. 9 with a pop-up banner despite the homepage advertising, "We are temporarily closed." On Facebook, the restaurant said that all who purchased tickets to the anniversary event will be refunded.

Suburban Man, Others Lied For COVID Relief Loans, Used Money To Buy Luxury Cars, Watches: US Attorney

A federal grand jury this week indicted five people on charges alleging they fraudulently obtained millions of dollars in small business loans and other benefits under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.

Winning $1 Million Lottery Ticket Sold At Jewel Store

"I was planning to buy a different scratch-off game," said the lucky winner. "But as I looked over the other options, this ticket stood out. It was as if my vision blocked out all the other tickets—this one was meant to be."

Historical Society Moves Headquarters To Temporary Location, Permanent Home Still To Come

The new owner of the building was temporarily leasing it to the Historical Society but planned to raise the rent "pretty substantially, so we needed to find something that was more affordable and more accessible to the public," the president told Patch. But a permanent new home for the group is in the works at a famous local historic site.

Cash Registers Pulled From Stores As Burglaries Target 15 Businesses: Police

When they arrived, officers discovered the front windows of several businesses had been shattered, police said. While investigating the burglaries, officers learned the crimes were a coordinated effort involving multiple locations.

New Cocktail Lounge Set To Open In Former Bike Rack Storefront

"Think more timeless lounge than retro revival. Deep tones, leather, brass, and bourbon — a bit more refined, a little moodier, but still warm, welcoming, and very us."

Festival Of The Vine Returns For 43rd Year

Small plates, wine, live music, an arts and craft show and free horse-drawn carriage rides are on the docket for the 2025 event.

AT&T Store Hit In Smash And Grab: Police

After using a landscaping rock to shatter the glass door, the suspect(s) removed an iPhone 16, and several speakers valued between $150 and $300, according to police reports.