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Time Out Market Chicago in Fulton Market is closing its doors next Friday

Customers were surprised to learn that the Time Out Market in Fulton Market announced on Wednesday that it's closing its doors for good.

Higher food prices, slow winter sales, and dwindling food traffic were cited for the closure of the food hall, which houses several food concepts and restaurants. Each of them is now making hard decisions and changes before the market closes late this month.

First opened in 2019, the market weathered the pandemic, but they said they face continued challenges — falling foot traffic due to ongoing hybrid work and escalating operating costs. Customers said they come to the market for the variety of options, but did notice the changes.

At least one restaurant owner said she didn't pay rent but gave a portion of sales. So as her take-home dropped, so did the amount she turned over to the market.

"It was always really busy when it first opened, and I know the last few times I've been here it hasn't been as busy," customer Michael Mayers said.

Mayers said he heard of the closure and wanted to come by before then.

"Our office is a couple of blocks away, so I wanted to make sure that we came over before it officially closes," he said. 

"They have a bunch of the local producers here, kind of sad to see that it's closing down, because I like the variety of options. You know you don't have to eat the same thing as my coworker," said Vincent Chenneveau.

Co-owner of Tacotlan, Jessica Perjes, said things are tough for people in the food industry as of late.

"To be quite honest, I've been speaking to a lot of the … my friends in the industry, and the consensus is … is it's really tough out here right now for everyone. For everyone in the restaurant industry," she said.

She said she believes there are a lot of things stacked against small businesses currently, and at this point, it's all about surviving. 

Setting the scene, Perjes said her daughter described the vibe inside the food hall after the announcement of the closure.

"I was talking tomy daughter last night. She worked last night's shift and said it just ... everything just seemed sad," she said.

The closure leaves a 15,000 square foot hole in the middle of the West Loop. CBS Chicago asked Time Out what's next for the building, but has not heard back. The online publication Time Out Chicago, however, will continue.

Perjes said she's able to move her staff from the location to the original restaurant in Hermosa, and she's trying to work her connections in the industry to find as many positions for other staff as she can.

Customers are now hoping something else will take its place, preferably something affordable. 

"Lunch is super expensive around here, so something affordable would be great," Mayers said.

"I hope that's something similar would replace it, but who knows what will happen," Chenneveau said.

"Hopefully they don't turn it into a Pickleball court," a passerby said.

The last day of service for the Time Out Market food hall is Jan. 23.

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