CUT 158's New Site: Renovations Will Cost John Bays 6 Figures

JOLIET, IL — A city building permit inspection report for October shows that Joliet businessman John Bays intends to spend about $120,000 to remodel a portion of the Two Rialto Square Building into a food service establishment - the new CUT 158 Chophouse restaurant location.

In December 2018, Bays purchased the Two Rialto Square Building after it had fallen on hard times. By then, several of the law firms and other businesses had moved out after two disastrous floods happened inside the six-story building because the pipes burst.

Over the past three years, Bays has made at least $6 million in repairs and upgrades to the building. Bays also has attracted several new office tenants including the Will County Regional Superintendent of Schools to occupy fourth floor office space.

Several months ago, the Joliet Chamber of Commerce sold its building down the street and signed a long-term lease with Bays Investments to occupy first-floor office space inside the Two Rialto Square property.

The top two floors of the building have been renovated into 20 luxury loft apartments for Joliet's working professionals.

With the rest of the building nearly done, Bays is turning his focus back to the first floor, across the hallway from the Joliet Chamber office.

On Oct. 21, Joliet Patch broke the news that Bill Dimitroulas, one of Joliet's most notable restaurant owners, announced that he would be moving his CUT 158 Chophouse from 158 North Chicago St. into the Two Rialto Square Building property of Bays.

CUT 158 hopes to open at its new location during January, Dimitroulas has said.

At 158 North Chicago St., CUT 158 has 2,000 square feet of restaurant and bar space. The new restaurant inside the Two Rialto Square property consists of 8,000 square feet and features two levels of dining.

"We're looking to employ 60 to 70 people in there between bartenders, kitchen and servers," Dimitroulas said recently. "The menu is not going to be different. The quality will remain the same."