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New Michael Jordan Steakhouse Opening On Mag Mile

CHICAGO (CBS) -- The new Michael Jordan Steakhouse opens Tuesday on the Magnificent Mile, in what is the first restaurant with the Bulls icon's name on it in 13 years.

Michael Jordan's Steakhouse is opening in the ground-floor bar area and second-floor dining room of the Hotel InterContinental, 505 N. Michigan Ave., replacing the old restaurant Zest.

The restaurant will feature a contemporary five-star menu.

The restaurant will be managed by David Zadikoff and his Cornerstone Restaurant Group, which licensed former Bulls legend's name from Jump Higher LLC, the Chicago Tribune reported in June.. Jordan and Zadikoff will take away a percentage of the annual revenues, the Tribune reported.

There is already a Michael Jordan's Steakhouse in New York City, on the north and west balconies of Grand Central Terminal; and in the Mohegan Sun casino in Uncasville, Conn.

The old Michael Jordan's Restaurant was located at 500 N. LaSalle Blvd., and operated from 1993 to 1999. Jordan did not have an ownership stake in the restaurant, which was opened by Bigsby & Kruthers clothing store operators Joe and Gene Silverberg.

After a dispute the led Jordan to stop appearing at the restaurant, the Silverbergs decided to remodel it as Sammy Sosa's Restaurant and open another Jordan's restaurant in a different building. Jordan filed a lawsuit, and the restaurant closed in 1999.

It is now occupied by the LaSalle Power Company, a bar, restaurant and live music venue.

Jordan does own One Sixtyblue at 1400 W. Randolph St., which markets itself as "a Michael Jordan restaurant." It is operated by the Cornerstone group.

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