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CHICAGO RIDGE, IL-An investment group has acquired a former Bennigan’s Restaurant at 95th Street and Ridgeland Avenue to be converted into a Tilted Kilt Pub and Eatery. The investors paid $1.7 million for the property, which was vacated last year as part of Bennigan’s bankruptcy.

The franchisee group was led by Frankfort, IL-based developer Perry Group Ltd. and comprised of Joe Perry, Paul DiBendetto, Biagio Savarino, Dan LaMore, Ed Daly and Ken Daly.

Joe Perry, CEO and president of Perry Group, says despite the challenges facing the commercial real estate market, he believes the investment to be a solid one. “It might be the hottest new concept restaurant in the market today,” Perry tells GlobeSt.com. “We originally bought the franchise in order to ‘create’ a tenant for one of our developments. It has blossomed into much more than we anticipated.”

The investors also have plans for more Illinois store openings in New Lenox and Bourbonnais in 2010. The acquisition and rehabilitation costs for the Chicago Ridge location are projected at $800,000. Tilted Kilt Pub And Eatery, a Celtic-themed sports bar chain, has recently seen locations opening at 6320 Route 53 in Woodridge and 17 N. Wabash in Chicago’s Loop.

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