Balaban's restaurant, located in Chesterfield for nearly 10 years, will come under new ownership next month before it moves to a new location in the Central West End.
Karen Halper, owner of CWE Balabans LLC and several CWE businesses, is set to close Aug. 15 on her purchase of the restaurant from partners Brian Underwood and Steve McIntyre.
Terms of the deal weren't disclosed. The sale includes the Balaban's name, furniture and fixtures; Halper did not buy the restaurant's wine cellar or its wine library, officials said in announcing the deal Monday.
Balaban's will close the night of Aug. 10 at its current location, 1722 Clarkson Road in Chesterfield. The current staff will have an opportunity to work under Halper, according to a release.
Halper's reopening of the restaurant depend on completion of building renovations at its "anticipated location" of 412 N. Euclid Ave. in the CWE, according to a release. That's across the street from the site of the original Cafe Balaban, which opened in 1972 at 405 N. Euclid Ave., a building that was later home to Herbie's Vintage 72 and now houses the Up-Down arcade bar.
According to a release, the reason for Underwood and McIntyre's sale "centered on retirement," although both now want to pursue other interests. Both have retired from previous posts before: Underwood from heading compliance at brokerage A.G. Edwards and McIntyre from Cafe Balaban when he closed the restaurant in the CWE in 2006.
Underwood and McIntyre opened Balaban's in Chesterfield in November 2009, adding a retail wine store.
Halper’s other CWE businesses include the Mahler Ballroom, an event venue at 4915 Washington Blvd.; gift and women's clothing shop Enchanting Embellishments, which leads into Mary Ann’s Tea Room, with both at 4732 McPherson Ave. On June 24, she added Patty Long Catering, which she plans to consolidate into the Balaban's Euclid location after Jan. 1, according to Monday's release.