Financial beef threatens Mr. Beef, local eating landmark

Mr. Beef, a popular River North lunchtime and anytime beef joint, is facing a foreclosure suit, according to Thomas A. Corfman in Chicago Real Estate Daily .

Mr. Beef’s co-owners, Joseph Zucchero and Michael Genevese, are alleged to have failed to pay off two loans, and missed payments on the establishment, located at 666 N. Orleans. Mr. Zucchero told Mr. Corfman that this is evidence of the problems of our economy now, where lenders are being too "tight-fisted" with loans, and thus hurting local entrepreneurs and small business people.

Mr. Beef's owners have another restaurant, Natalino's, at 1523 We. Chicago Ave. They say business is good, but in this economic climate, interest rates are too high, and they want to work with the banks to refinance several loans.

Mr. Beef has been a Chicago hangout for a beef and quick bite for 20 years. Beef lovers all over Chicago will fervently hope that Mr. Zucchero can work out new financing and loans and keep Mr. Beef open until the economy improves.