The potential payoff is great for Chicago - which could gain a new attraction for tourists, conventioneers and business travelers - and for the venue’s owners.Ĭhicago-based Four Corners, Tao’s joint-venture partner on the project, expects annual revenues of $26 million to $30 million or more, Four Corners co-founder Matt Menna said. “What really sets this project apart is the building. “They’re all big and windowless and sexy, with high ceilings and a big Buddha - or, in this case, a Quan Yin. “Tao has a very specific look and feel, but they’re all different,” Wolf said. Highlights will include ceilings as high as 35 feet, a capacity of nearly 1,700 diners and revelers, and a 16-foot-tall statue of Quan Yin, a Buddhist deity of compassion. While the potential reward is high, the ambitious Chicago project also comes with risk: Can the lavish concept, known for attracting the likes of Beyonce, Jay-Z, Madonna, Tom Cruise and Robert De Niro, succeed in Chicago as it does in Las Vegas and New York? The Chicago opening is expected to reinforce Tao Group’s reputation for majestic spaces, after completing what is believed to be one of the lengthiest and costliest build-outs in Chicago restaurant and bar history. Dearborn St., is planning a September opening, Tao Group founding partners Rich Wolf and Noah Tepperberg said. Tao Chicago, which will be located in the 126-year-old former Chicago Historical Society Building at 632 N. Restaurant and nightclub concept Tao is close to unveiling a dramatic new destination for a night out in Chicago - one that also could knock Gibsons from the top of the city’s highest-grossing restaurants list.
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