Best Big City, State Survey Results, Riverwalk Opportunity

Chicago Named Best Big City in U.S. by Condé Nast for Fifth Straight Year

Chicago has been voted Best Big City in the U.S. by readers of Condé Nast Traveler in their 2021 Readers' Choice Awards survey. Since 2017, Chicago has ranked number one in this category for its incredible restaurants, interesting and diverse attractions, and welcoming residents.  

Chicago is a "world-class destination known for its impressive architecture, first-rate museums, brilliant chefs, and massive brewing scene," says Condé Nast Traveler. "It’ll take several repeat visits to get through your list of must-dos.”

Click here to read more from Condé Nast Traveler.

Statewide Survey Results - 90% of Restaurants See Dampened Indoor Dining

The latest state industry impact survey results show some concerning trends for Illinois restaurant operators:

• 72% of Illinois operators say their sales volume in August 2021 was lower than it was in August 2019
• 69% of operators say business conditions for their restaurant are worse now than they were 3 months ago.
• 90% of operators say their restaurant experienced a decline in customer demand for indoor on-premises dining in recent weeks
• 75% of operators say their restaurant currently does not have enough employees to support its existing customer demand.
• 92% of operators say their total food costs (as a percent of sales) are higher than they were prior to the COVID-19 outbreak.
• 84% of operators say their profit margin is lower than it was prior to the COVID-19 outbreak.

These findings reinforce the need for Congress to take a "do no harm" approach to restaurants in the coming weeks and replenish RRF as soon as possible.

If you haven't done so already, take one minute to send a message to Congress now, and share the link with your industry colleagues.

City of Chicago Announces Requests for Qualifications for Chicago Riverwalk Community Marketplace for the 2022 Season

The City of Chicago Department of Assets, Information & Services (AIS) has announced it is inviting food and beverage, retail, arts and other businesses with the qualifications and expertise to apply to operate a concession on the Chicago Riverwalk for the 2022 Season, beginning next May. 

The City currently intends to establish a pool of qualified operators offering a variety of concessions showcasing the best of the City on the Chicago Riverwalk. The Riverwalk Community Marketplace is located on the south bank of the Chicago River between Michigan Avenue and Wabash.  

Minority and women-owned businesses are strongly encouraged to respond, as those vendors that opened seven days per week during the 2021 season generated more than $100,000 in total revenues.  

Applications to join the program are due November 8, 2021.

Click here to read the full announcement.

IRA on Vaccine Passports, Implications for Restaurants

IRA President & CEO Sam Toia recently spoke with WGN Radio about the call from some Chicago aldermen to require a vaccine passport for residents and visitors to enter indoor public places such as restaurants.

“We definitely agree that everyone should get vaccinated, we just don't think the vaccine passport is the way to go," said Toia. "It would put another burden on our small, independent restaurants that are still hurting and trying to get through the pandemic."

Click here to listen to the segment.

Webinar Tomorrow Afternoon - Employee Retention Tax Credit: Restaurant Updates

The IRS has provided much-needed guidance on aspects of the Employee Retention Tax Credit (ERTC) that help restaurant owners seeking to qualify for the credit. Join the National Restaurant Association and Tri-Merit Specialty Tax Professionals on Wednesday, October 6 at 1:00 p.m. (Central) as they share updates as well as discuss other tax incentives that are available to taxpayers, but that are often under-utilized within the restaurant industry. This includes Cost Segregation, the (WOTC) Work Opportunity Tax Credit, and the 179D Commercial Building Energy-Efficiency Tax Deduction.

Three key takeaways will include:

• How wages paid to majority owners are treated for ERTC
• When adjustments must be made for income tax purposes
• How tips are used in ERTC calculations and whether the tip credit affects this

Click here to register.