Upscale cocktail lounge being proposed for Bike Rack property in downtown Oswego

An upscale cocktail lounge is being proposed for the soon-to-be-vacant Bike Rack property in downtown Oswego.

Bay 54 is being proposed by the same group that currently owns and operates The Lewis, a ‘70s inspired cocktail lounge located in downtown St. Charles. Citing a lack of staff, The Bike Rack Oswego, located at 57 Main St., has announced it will close its doors July 15.

The Honeyman family, who own the St. Charles-based The Bike Rack, in 2023 bought Oswego Cyclery from owner Art Black.

“The theme for the Oswego lounge will be different than The Lewis’ 70’s concept, though the menu offerings, level of service and types of events will be largely similar,” Oswego Economic Development Director Kevin Leighty said in a memo to village trustees.

The owners of Bay 54 are requesting $71,208 in financial assistance from the village, including $32,628 in loan funding and $38,580 in grant funding to help offset the high building material and construction costs that exist in the current market, Leighty said.

“The scope of work includes costs for the design and construction of the buildout along with the purchase of all necessary equipment,” he said.

Oswego village trustees will consider the request at Tuesday’s village board meeting.