Downtown Oswego's Next Restaurants: What's Open, What's Close, and What's Still on Paper

In June, Ellwood Steak & Fish House was expected to open in the empty corner space at The Reserve at Hudson Crossing "by October." It's now October. The Village of Oswego's downtown business page now gives a target of end of 2026 or early 2027. It says the restaurant is working through plan review and expects to start its buildout soon. Four restaurants are planned for downtown Oswego, and Ellwood shows how the whole group is unfolding. Each one has a lease, a building, and a financial package approved by the Oswego Village Board. None has posted an opening day.

That public money is the reason most of these restaurants are coming. It's also the most reliable way to judge which ones are close.

The Village Board is underwriting downtown dining

Read the 2026 approvals together and a pattern appears. In each case, trustees approved a $40,000 economic development incentive as part of the deal.

• Ellwood Steak & Fish House, 180 W. Washington St. In June, trustees approved an incentive of up to $340,000, paid over no more than 10 years. That breaks down into a $40,000 grant paid when the restaurant opens and up to $300,000 in rebated sales taxes. The project's estimated cost is $1.15 million, according to Shaw Local's report on the June 23 vote.
• Billy Bricks Wood Fired Pizza, 5 S. Madison St. The board approved a $232,716 revolving loan and a $40,000 incentive award for Billy Bricks of Oswego LLC.
• Wholey Granoly, 121 S. Main St. The board approved $125,000 in revolving-loan funding plus a $40,000 incentive award, Patch reported in July.
• Hell's BBQ, 228 E. Washington St. On October 8, Shaw Local reported that the board had unanimously approved a $40,000 incentive award for building improvements.

Ellwood's package shows how the money is set up. The grant is paid when the restaurant opens, and the larger share comes back to the restaurant only as it brings in sales tax. The Village pays when diners show up. Village President Ryan Kauffman said residents had been asking for an upscale downtown restaurant, preferably a steakhouse, and for the Reserve corner to be filled. He said the project "checks all the boxes simultaneously."

Where each project sits right now

A board vote means the money is approved. It doesn't mean the restaurant is built. Construction stage is the better clue, and the Village's downtown page describes each project in plain terms. That page has no date on it, so its wording is the latest available but may not be up to the minute.

By that measure, Billy Bricks is the furthest along. It's the only one of the four described as actively under construction. It is taking over a previously vacant building on Madison Street and will serve wood-fired pizzas, pastas, sandwiches, salads and ice cream. Oswego residents may already know the name. A March Shaw Local report listed Billy Bricks locations in Naperville, Wheaton and Lombard and said the Oswego shop would include Moo Joe's ice cream.

Wholey Granoly has the earliest target but the least visible progress. The breakfast and lunch restaurant plans to renovate the former Dairy Barn building at 121 S. Main St. The plans include enclosing the existing outdoor patio and making operational improvements inside. It's family-owned, and Oswego will be its second location after Bolingbrook. The menu includes gluten-free, vegetarian, vegan and halal options, and the patio enclosure is meant to add seating. "End of fall" means sometime before late December. The Village's page still describes the permit plans as being prepared, so that window is tight.

Ellwood brings the full-service steak and seafood dinner downtown hasn't had. Its menu features filet mignon, rib eye, New York strip and salmon, along with appetizers, pasta and salads. The restaurant already operates on Sycamore Road in DeKalb. The Oswego space sits next to Tabletop Game Shop in the Reserve building.

Hell's BBQ is the newest addition to the list. The barbecue restaurant closed its first Oswego storefront at 1019 Station Drive on July 26, and its food truck and catering kept running. In September it announced a move to the former Danelli's building at 228 E. Washington St. That report said a rezoning of the site from manufacturing to business use was moving forward. It also noted the menu items that built the following: rib tips, brisket egg rolls and cornbread. The October grant puts the move on firmer ground. No reopening date has been given.

Harrison Street Square is the one to watch

The fifth project doesn't fit the same pattern. Harrison Street Square at 174 Harrison St. is converting a former industrial building into a retail center, with small pop-up shops and community open space planned for later. The Village says the first phase, the building conversion, is under construction and should be finished by the end of 2026. TermiNader Fitness is the one committed tenant named so far.

The project's own website goes further. It describes boardwalk shops, a food court, a community lawn and a pavilion. It lists Marsala's Italian restaurant and wood-fired pizzeria, Frankly American Hot Dogs and Barkville Buddies as coming soon. It also labels Mi Kozina Mexican Grill and Peru ~ Pollos a la Brasa "Open Now." The Village page and the project site describe the same property at different points. If the food court is partly running while the building work continues, Harrison Street may be the first new downtown dining spot to come together this winter.

What's already open downtown

The planned openings join a downtown that has already added places over the past two years. The most recent:

1. Bay 54, an upscale cocktail lounge at 57 Main St., held its grand opening in July 2026.
2. Needle 'N Groove Records at 17 W. Jefferson St. sells new and hard-to-find vinyl and held its grand-opening ribbon cutting in June 2026. Shaw Local reported a June 7 soft opening.
3. Taco Dále Cantina opened as a full-service restaurant at 123 Washington St. in August 2025.
4. Nash Vegas Saloon has run a restaurant and live entertainment venue in a former 6,200-square-foot brewery space since July 2024.

Parking has also improved for anyone heading downtown for dinner. The second residential building at The Reserve at Hudson Crossing, just north of 77 S. Adams St., was completed in April 2026. It includes a 123-space public parking deck. That deck sits a short walk from Ellwood's future corner and the Washington Street restaurants.

The rest of October downtown

Fall Fox Fest was on October 4. Several dates are still ahead before the new restaurants open:

• Friday, October 16: Boos at the Bridge, from the Oswegoland Park District
• Saturday, October 17: Oswego Lantern Festival, on the Village calendar
• Saturday, October 24: Downtown Trick or Treat from 10 a.m. to 2 p.m., no registration required, according to the Oswego Downtown Association
• Saturday, October 24: Monster Mash Bash, from the Park District
• Wednesday, October 28: Halloween Happy Hour with tarot reading, a craft and wine, from the Park District

The first big opening this season is likely to be outside downtown. Trader Joe's at 1930 U.S. Route 34, at Kendall Point Drive next to Delta Sonic, is expected to open in early to mid-November. Oswego Economic Development Director Kevin Leighty told Shaw Local the interior buildout would be finished this month, followed by stocking. Trustees approved a packaged liquor license for the store on August 18.

For the downtown restaurants, the next real signals will come from the Village Board agenda and from permit activity. Billy Bricks is the one already under construction, so it is the most likely to open first.

Whether you're selling near the Washington Street corridor or deciding which part of Oswego fits your routine, it helps to know which openings are funded and which are only planned. If you'd like to talk through how downtown's next year could affect your plans, Jay Stallone is glad to walk through it with you. Let's Connect.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.