Original Rainbow Cone Adds Locations, To Open Mt. Prospect Kiosk

MT. PROSPECT, IL — An Illinois summer treat staple will make its foray into the northwest suburbs after The Original Rainbow Cone announced it will open a new location in Mt. Prospect next week.

The Chicagoland favorite that boasts five kinds of ice cream all on one cone will open up a kiosk at the Buena Beef at 861 E. Rand Rd. on Aug. 12, the company announced on social media on Tuesday.

The Original Rainbow Cone opened its first location in 1926 in Chicago’s Beverly neighborhood, introducing an original ice cream treat that features chocolate, strawberry, Palmer House, pistachio ice cream and Orange Sherbet served in slabs rather than scoops on a cone.

The family-owned business has expanded around the area over the past nearly 100 years and includes both storefront locations and Rainbow Cone trucks around the greater Chicago area. The Mt. Prospect location is the company’s first in the northwest suburbs and is part of an expansion project that could soon extend to other states.

The family that owns Rainbow Cone has partnered with the family that owns Buena Beef and has been opening up new locations together for the past four years. The families recently announced that they would open up franchising opportunities to other states.

Investors who want to open a Rainbow Cone franchise will need an upfront investment of $258,585 to $1.26 million, depending on the design, according to terms posted at rainbowconefranchise.com.

The Chicago Sun-Times reported this week that new Rainbow Cone locations will open in the next year in several locations including Algonquin, Orland Park, and Flossmoor while Buena Beef will open new locations over the next 18 months and will expand into Wisconsin and Indiana.