Rosebud Shutters and Sells Centro on Hubbard, Planning River North Relocation

More change is happening in River North. After nearly two years in business, Rosebud Restaurants shuttered and sold the revived Centro Ristorante on Hubbard Street on Wednesday. But it may not be gone for long, as Rosebud's rep says they're closing in on a new location for the group's bustling red-sauce Italian spot that's "around the corner."

A Japanese company approached Rosebud and "wanted that corner," the rep says, and they obliged due to the high rent at the location and the proliferation of bars and nightlife on the Hubbard Street strip. The unnamed company also wanted Joe Fish, their seafood restaurant on Dearborn, but Rosebud wouldn't give that up. Who the new restaurant group is and what concept they're planning is currently under wraps.

The possible new Centro location is currently under wraps as well, as reps say the real estate deal is not yet complete. The opening of the new spot will take "at least eight months" after a finalized deal. Stay tuned.

This Centro incarnation, a revival of the 1990s Italian hotspot, opened on the prominent State and Hubbard corner in May 2013. Some of Centro's specialty dishes will move over to Joe Fish's menu.