FOX RIVER GROVE – A new banquet hall in Fox River Grove is expected to open by the end of the summer at the former Five O’Clock Steakhouse location.
The Avante Banquets and Conference Center, 1050 E. Route 14, will feature an estimated 16,000-square-foot building on about 11 acres, developer George Kalkounos said.
Kalkounos, who is the owner of Chicago Prime Steakhouse in Schaumburg, said the space will be upscale and host weddings as well as other private events.
There will be one room that can be divided to hold two different parties at one time, he said, with each holding about 250 guests.
The property also has a lake in the back that will be landscaped and have a gazebo near it, and possibly a permanent tent, Kalkounos said.
“It’s going to be the most beautiful and most well-constructed banquet facility in the northwest suburbs,” Kalkounos said.
The district allows for an additional 1 percent sales tax to be applied to purchases made on the property and would not affect any other businesses in the village.
The tax collected will be used to reimburse the developer for eligible expenses such as adding another entrance off Route 14, Fox River Grove Village Administrator Derek Soderholm said.
Avante Banquets is expected to bring in $20,000 to $30,000 in sales tax a year, Soderholm said.
He said the developer also intends to build additional businesses on the site in the future.
There are no other banquet facilities in Fox River Grove, Soderholm said, and not many in the area.
“It’s going to be a nice addition to the county and the region, not just Fox River Grove,” Soderholm said.