Oswego approves financial assistance for proposed upscale cocktail lounge

Although The Bike Rack Oswego closed its doors Tuesday, the space it occupied at 57 Main St. in downtown Oswego will not remain vacant for too long.

Citing a lack of staff, The Bike Rack Oswego closed its doors permanently on Tuesday. The Honeyman family, who own the St. Charles-based The Bike Rack, had occupied the space since 2023.

At the same time, plans are moving ahead for an upscale cocktail lounge called Bay 54 to occupy the space. 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.

At the July 15 Oswego Village Board meeting, trustees unanimously approved Bay 54’s request for $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.

“Since it historically has been a retail space, there is quite a bit of work that needs to be done in order to bring it up to occupancy standards for an eating and/or drinking establishment,” Oswego Economic Development Director Kevin Leighty said at the meeting.

Trustees expressed enthusiasm about the proposal.

“I’ve been to The Lewis,” village trustee Rachelle Koenig said. “I love it. I’m really excited to have this kind of opportunity here in Oswego. And I love the creativity of using this kind of space. It’s different, it’s interesting.”

Village trustee Karen Novy agreed.

“I’ve been to The Lewis and I enjoy it immensely,” Novy said.

Plainfield resident Dan Thomas, who owns The Lewis, said he strives to create something different than “your standard bar.”

“Our goal is to create a welcoming and warm environment, somewhere that you can melt into your seat and enjoy your time there,” he said.

The Lewis refers to Dr. James K. Lewis, the first mayor of St. Charles. In turn, the name Bay 54 has a connection to Oswego.

The building previously housed a fire station that opened in 1954, Thomas said.

“We are occupying the engine bay and the paramedics quarters from there, so that’s where the name comes from,” he said.

The plan is to create a “lounge, cozy environment” for customers, Thomas said.

“We’re excited to be here and we’re excited you guys are welcoming us,” he said.