Chicago feels different now. If you’ve ever stood on the corner of Michigan and Delaware, looking up at the dark, tapering silhouette of the former Hancock Center—now 875 North Michigan Avenue—you know exactly what’s missing. For over half a century, The Signature Room at the 95th wasn't just a place to eat expensive sea bass. It was where you went to see the world. Then, on a random Thursday in September 2023, it just... ended. No farewell tour. No final toast. Just a sign on the door and a shockwave through the city's hospitality scene.
It’s honestly kind of weird to think about a landmark that stood for 30 years—and its predecessor, The 95th, which goes back to 1970—vanishing overnight. You’ve probably heard the rumors. High rent. Post-pandemic struggles. The decline of the Mag Mile. But the real story is a bit more layered, involving a messy mix of commercial real estate pressure and shifting consumer habits that even 360-degree views couldn't fix.
The Brutal Reality of Why It Closed
The closure of The Signature Room at the 95th was a gut punch to the 130 employees who worked there, but the writing was on the wall if you looked at the numbers. Rick Roman and Nick Pyknis, the owners, were pretty blunt about it in their public statements. They cited "economic issues" and an "unsuccessful" attempt to renegotiate their lease.
Retail and dining on the Magnificent Mile have been in a tailspin for a few years. It’s not just "safety concerns" or "internet shopping." It’s the math. When you operate on the 95th and 96th floors of one of the world's most famous skyscrapers, your overhead is astronomical. We aren't just talking about the price of wagyu. We’re talking about elevator maintenance fees, specialized insurance, and a lease that likely didn't account for a world where people stopped coming into the office five days a week.
The building itself had changed hands, too. In 2013, the American Properties division of a massive insurance company sold the office and parking decks, and later, the observation deck (360 Chicago) went to a different group. By the time the restaurant closed in 2023, the ownership structure of the building was a jigsaw puzzle of institutional investors. When your landlord is a corporate entity looking at a spreadsheet in another state, "city legacy" doesn't carry much weight.
More Than Just a Tourist Trap
Locals loved to hate on it. "Oh, it's just for tourists," they'd say while secretly taking their parents there every time they visited from out of town. But The Signature Room at the 95th was unique because it bridged the gap between a "special occasion" spot and a legitimate Chicago institution.
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Think about the sheer scale of the place. You had the main dining room on 95 and the lounge on 96. The lounge was the real secret. You didn't need a $150 dinner reservation to feel like a king. You just needed $20 for a cocktail and the patience to wait for a window seat.
That Famous View (and the Bathroom)
We have to talk about the women’s bathroom. Seriously. It became a piece of Chicago folklore. It was widely considered the best view in the city, even better than the actual dining room. People would literally sneak in just to take photos of the skyline from the stalls. It sounds ridiculous, but that’s the kind of quirk that makes a place human. It wasn't a sterile, modern "concept" restaurant designed by a consulting firm to be Instagram-mable; it was just inherently spectacular because of where it lived.
The view looked north toward Lincoln Park and the lakefront. On a clear day, you could see the curve of the earth over Lake Michigan. At night, the grid of the city looked like a circuit board glowing with orange high-pressure sodium lights.
The Evolution from "The 95th" to "The Signature Room"
Before it was the Signature Room, it was simply "The 95th." Opened in 1970, it was managed by the Davre’s division of ARA Services. It was the height of mid-century corporate luxury. We’re talking tuxedoed captains, tableside flambé, and heavy French influence. It was where the "Big John" (the nickname for the Hancock) proved it could be more than just an office and residential hub.
In 1993, Roman and Pyknis took over and rebranded it. They modernized the menu and made it slightly more accessible, though it remained a white-tablecloth affair. They navigated the 2008 crash, the rise of the West Loop dining scene—which pulled the "foodie" crowd away from the Mag Mile—and the sheer logistical nightmare of the 2020 lockdowns.
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Why the Mag Mile Struggle Hit So Hard
The Signature Room didn't exist in a vacuum. It was the crown jewel of North Michigan Avenue. But look at the street level today. Gap is gone. Uniqlo is gone. Macy’s left Water Tower Place. When the foot traffic at the bottom of the building thins out, the destination dining at the top feels a lot further away.
- The "Lease" Problem: Commercial leases in the Hancock are famously complex. Unlike a storefront on a side street, you're paying for the prestige of the address.
- Maintenance: When you're 1,000 feet in the air, everything is harder. Getting a crate of lemons or a new stove up there requires freight elevators and coordination that costs time and money.
- Competition: 360 Chicago, the observation deck on the 94th floor, added its own bar and the "Tilt" attraction. While they weren't direct competitors in terms of fine dining, they were competing for the same "view-seeking" dollars.
Honestly, it’s a miracle it lasted as long as it did in that environment. Most restaurants don't make it five years, let alone thirty.
What Happens Now?
The space is currently empty. It’s a haunting thought—those massive floor-to-ceiling windows looking out over a dark dining room. There has been plenty of speculation about what comes next. Will another restaurant group step in? Maybe. But the cost of renovating a space that high up is staggering. It would likely require a complete overhaul of the kitchen and HVAC systems to meet 2026 standards.
Some people think it should become a private club. Others want it to be absorbed into the 360 Chicago experience. Whatever happens, the era of the "Signature Room" as we knew it is over. You can’t just recreate thirty years of anniversaries, proposals, and "I can see my house from here" moments.
Moving Forward: How to Get Your Chicago View Fix
If you’re visiting Chicago and were heartbroken to find the doors locked, you aren't totally out of luck. You just have to pivot.
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First, go to 360 Chicago on the 94th floor. It’s the same building. You don't get the seated dinner, but the CloudBar there serves local spirits and has a decent vibe. It’s more "tourist attraction" than "fine dining," but the lake view is identical.
Second, check out The J. Parker in Lincoln Park. It’s on top of the Hotel Lincoln. It’s much lower—only 13 floors—but you get a stunning view of the skyline looking south, which is arguably more beautiful because you can actually see the skyscrapers instead of standing on top of one.
Third, there is Cindy’s Rooftop at the Chicago Athletic Association. It overlooks Millennium Park and the Art Institute. It’s loud, it’s crowded, and it’s very "now," but the balcony view is world-class.
Finally, for the true old-school experience, head to Gene & Georgetti or RL Chicago. They don't have the views, but they have the soul that the Signature Room carried.
The closure of The Signature Room at the 95th marks the end of a specific chapter of Chicago history. It was a time when the Mag Mile was the undisputed center of the universe and a night out meant dressing up just to look at the lights. We might get a new restaurant in that space eventually, but it’ll be a different beast. For now, we just have the memories and a lot of very famous photos from a bathroom on the 96th floor.
Actionable Steps for Chicago Travelers
- Check Status Before You Go: Many travel blogs haven't updated their "Top 10" lists. Don't take a cab to the Hancock expecting dinner; the restaurant is permanently closed.
- Book 360 Chicago Early: Since the restaurant closed, the observation deck has seen a surge in traffic. If you want a sunset slot, book at least 48 hours in advance.
- Explore the West Loop: If you want the high-end dining that the Signature Room used to provide, head to Fulton Market. Restaurants like Rose Mary or Oriole are where the city’s culinary energy lives now.
- Visit the 94th Floor Bar: If you specifically want a drink in the Hancock, the 94th floor "CloudBar" is your only current option. It requires an admission ticket to the observation deck.