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The first location of Old Chicago, set on Boulder's Pearl Street at 11th, will be no more, according to the Daily Camera. The land owners are planning to replace the casual restaurant, which since inception became a chain, with a new-construction three-story office and retail building. A ground-floor restaurant or retail shop is part of the plan and owners of the project say there will be an option for Old Chicago to lease space in the new building.
If the chain chooses to return, it will have to pony up top dollar for the prime 15,000 square foot building. The one remaining restaurant on Pearl Street West is being leased by for $50 per square foot. An office space down the street, in the 1100 block with Old Chicago, is listed for nearly $26 a square foot. New lease rates for the upcoming building will be dictated, owners of the land say, by construction costs.