September 07, 2024
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Former Oswego Brewing Company space eyed for Nashville-inspired bar, restaurant

Owner seeks economic help from village as part of $724,000 project

By Eric Schelkopf
After first opening its doors in May 2018 in downtown Oswego, Oswego Brewing Co. has announced that it will be shutting its doors in September.

The owner of several restaurants in the area – including Silver Fox Bar & Grill in Yorkville – is asking for economic assistance from the village as part of a $724,000 project to redevelop the space that formerly housed Oswego Brewing Company at 61 Main St. in downtown Oswego. (Eric Schelkopf)

The owner of several restaurants in the area – including Silver Fox Bar & Grill in Yorkville – is asking for economic assistance from the village as part of a $724,000 project to redevelop the space that formerly housed Oswego Brewing Company at 61 Main St. in downtown Oswego.

Yonas Lagos plans to turn the space into a Nashville-inspired bar and restaurant called Nash Vegas Saloon that will offer food, a full bar, live music and line dancing. The project will involve major renovation work, including interior demolition, bathroom remodeling, the installation of a new kitchen, construction of a band stage and dance floor and the creation of a new bar area.

Oswego Brewing Company closed in September 2023 after first opening its doors in May 2018. In an announcement on its website and Facebook page, owners said the financial impact caused by the COVID-19 pandemic was the primary cause leading to the pending shutdown.

Lagos is seeking $340,000 in low-interest loan funding and $40,000 in grant funding from the village. The funds will help offset the escalating costs of lending and building materials in the current market, according to village officials.

The Oswego Village Board will consider the request at its March 18 meeting.

“The introduction of ‘Nash Vegas Saloon’ represents more than just a new business venture; it symbolizes our unwavering commitment to revitalizing Oswego’s downtown,” Oswego Village President Ryan Kauffman said in a news release. “Initiatives like these not only enhance the local economy but also contribute to the vibrancy and cultural richness of our community.”

The loan will feature a 3% interest rate on the outstanding balance with a repayment term of 10 years. The monthly payment will be approximately $3,283 per month for 120 months.

Village staff have voiced support for the financing request.