Lovell family confirms building sale of Lake Forest restaurant

Confirming rumors that began in the fall of 2013, a Lovell family spokeswoman said Thursday its flagship restaurant — Lovell’s of Lake Forest — is for sale.

The three-story iconic building, the more than one acre of land on which it sits and the restaurant business itself are on the market.

“All three are for sale,” said Darice Lovell, wife of Executive Chef Jay Lovell. “It was a tough decision.”

Jay Lovell is the son of Capt. James Lovell, the former United States astronaut renowned for several Gemini missions and the aborted Apollo 13 mission made famous in the 1995 movie based on his best-selling book, “Lost Moon.” The restaurant features space-mission artifacts, including a large “Steeds of Apollo” mural behind the bar off the entrance.

Darice said it was “a family decision” to sell that will not affect the daily operation of the restaurant, which she and Jay bought from James Lovell eight years ago.

This is the first time the 17,000-square-foot building, located at 915 S. Waukegan Road in Lake Forest, has been on the market since it was built by the Lovell family in 1999.

Darice would not disclose an asking price and the commercial property listing on www.loopnet.com does not list an amount.

The building and land are owned by the Lovell family, Darice said. “It’s always been a family piece.”

The smaller Jay Lovell’s of Highwood, which Darice, Jay and their two daughters will own, is set to open sometime in March.

Meanwhile, it’s business-as-usual at Lovell’s of Lake Forest.

“We are open for business, open for parties,” she said.

Reservations can be made for Valentine’s Day and beyond.

The original headline of this article was changed to clarify that, while the building that houses Lovell’s of Lake Forest is for sale, the family is not selling the actual restaurant. The new owner could possibly choose to continue a restaurant on the site.

 

 

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