By Michael Nagrant
“Second floor retail is murder,” says Kyle McHugh, aka “The Boozehound” and owner of boutique wine, beer and spirits retailer Drinks Over Dearborn (DOD). Though McHugh learned this truism in business school, he opened DOD on the second floor of an old office building called The Raleigh on Dearborn between Erie and Ontario anyway.
It wasn’t that he was the Evil Knievel of liquor retailers interested in spitting on MBA textbook theories. Rather, a greater truism trumped all: rent prices in the Gold Coast (an area he preferred for its affluent traffic) were a straight-up serial killing. McHugh figured he could better avoid the death of his business by executing his business plan the right way: get a bigger space to conduct classes, tastings and host a wide variety of interesting stock instead of compromising and blowing his life’s savings and small-business loan on a dinky little box on the first floor.
And in a business climate where faux anonymity and cloak and dagger is the new version of the Vegas-style blinking neon sign, who could discount McHugh’s decision? After all, the Lincoln Park restaurant Alinea doesn’t even have a sign and the popular Wicker Park cocktail lounge The Violet Hour looks like a graffiti-covered abandoned building.
If you build it, they will come, right? Read the rest of this entry »