Main Event – Oscar’s – 1988

Main Event - Oscar's

“New restaurant to open at former Main Event site” by Larry Smith

“The former Main Event reopens its doors today with a new name, new owners and a new look.”  102 N. Main St.

“Jay Clark, operating partner of Oscar’s, said the restaurant will be a casual dining atmosphere with more than 75 items on the new menu.”

“The restaurant, owned by State and Main Management Inc., also will turn into a nightclub at 9 p.m. nightly.’

Source: Rockford Register Star August 26, 1988

Main Event receipts percentage to MetroCentre

Main Event 2

“Bar’s pay to Centre drops 52%”  by Joe Lamb, The Register Star

“Rockford MetroCentre receipts from sales at the Main Event dropped 52.6 percent in the downtown restaurant’s second years of operation, MetroCentre records indicate.”

“The restaurant, which closed Monday for what its backers termed a change in ownership and remodeling , paid the MetroCentre $24,700 as a percentage of gross sales for the fiscal year ending June 30.”

“The figure for the previous year was $46,975.”

“[Attorney David] Mayfield said the restaurant is being purchased from Downtown Sports Club Inc by a new organization called LIA Inc, but declined to name the individuals involved.”

“He said the new owner plans to have the restaurant back in business in time to benefit from crowds expected for the city’s On The Waterfront festival in September.”

“Under its lease agreement, the Main Event pays the MetroCentre a percentage of monthly gross sales in addition to $20,000 per year flat rent.”

“Walsh said the lease calls for the restaurant to pay 8% of gross receipts that exceed $41,666 up to $104,166, and six percent of receipts above the top figure. No percentage is paid on receipts below $41,166.”

“The Main Event is located in the lower level of a parking ramp at 102 N. Main St., which was built by the MetroCentre Authority in 1986.”

The MetroCentre put $500,000 into fixtures and construction of the restaurant in the parking ramp. According to earlier news reports, Zimmerman’s group invested $150,000 toward opening the Main Event.”

Source: Rockford Register Star July 20, 1988

 

 

 

Main Event

Main Event

By Joe Lamb

“Ownership of the Main Event is changing hands, and the downtown Rockford restaurant is closed for remodeling, a key investor said Monday.”

“The restaurant’s landlord is the MetroCentre Authority.”

“One of the current partners is purchasing the interests of some other partners,” said Rockford lawyer Steven P. Zimmerman.”

“Zimmerman is a partner in Downtown Sports Club Inc., which leases the restaurant space and facilities from the MetroCentre Authority.  He declined to discuss specifics of how the ownership is changing.”

“Signs reading “Closed for Remodeling” greeted customers Monday at the parking ramp restaurant at 102 N. Main St.”

“Zimmerman’s corporation has operated the restaurant since May 1986 under a lease agreement with the MetroCentre. The agreement calls for rental payments of $20,000 a year plus a percentage of gross sales.”

Source: Rockford Register Star July 19, 1988