Cornerstone Restaurant Group

What Cornerstone Restaurant Group does

Cornerstone Restaurant Group (CRG) is a privately held, Chicago-based hospitality management company founded in 1992 by David Zadikoff and Jonathan Albert. The company operates a portfolio of owned and licensed restaurant concepts — most prominently Michael Jordan's Steak House (four U.S. locations plus Seoul), MJ23 Sports Bar & Grill, Sol Toro, Urbanbelly, Dimmi Dimmi Corner Italian, The Table at Crate, Brasserie 1783, and Hi-Fi Chicken & Beer — anchored by a 25+ year exclusive partnership with Michael Jordan and a 13+ year partnership with James Beard-nominated Chef Bill Kim. CRG runs three service lines: We Operate (ownership and management of restaurants), We Consult (F&B consulting for hospitality operators), and We License (brand licensing for hotels, food halls, and resorts).

Revenue is generated primarily through direct restaurant sales to consumers at owned locations, supplemented by licensing royalties and management fees from enterprise partners including Mohegan Sun Casino (20+ year relationship), Crate & Barrel, Aramark, Strategic Hotels & Resorts/IHG, and the South Korea-based INSPIRE Entertainment Resort. The customer mix is split between individual diners across Chicago, Connecticut, and Seoul, and enterprise B2B partners in the casino, hotel, retail, and university segments. Leadership transitioned to second-generation CEO Josh Zadikoff in 2018, with Danny McGowan (President/COO, ex-Lettuce Entertain You) overseeing the operating portfolio.

The company's core underlying technology is operational rather than digital: proprietary restaurant concepts, brand standards, menu development methodologies, and service-training systems refined over three decades. No proprietary software platform, app, or AI/ML capabilities are disclosed in available source material. CRG's go-to-market is enterprise field sales for licensing and consulting engagements, with consumer awareness driven through social media, signature community events (Chefsgiving, Ramenfest), and the celebrity-brand halo of Michael Jordan and Chef Bill Kim. The company reports no external institutional funding and remains founder/family-controlled.

Name

Cornerstone Restaurant Group

Legal name

Cornerstone Restaurant Group

Website

https://cornerstonerestaurants.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Cornerstone Restaurant Group is a privately held Chicago-based hospitality company that owns, operates, consults, and licenses a portfolio of upscale restaurant brands — anchored by a 25+ year Michael Jordan partnership and Chef Bill Kim — for consumers and enterprise partners including casinos, hotels, retail, and resorts in the U.S. and South Korea.

Ownership category

akta.pro rank

Product category

Restaurant and Hospitality Services

NAICS

Full-Service Restaurants (722511), Restaurants and Other Eating Places (72251)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Fine Dining Restaurants (THAFACAA)

akta.pro secondary industry

Hotel & Resort Restaurants (THAFACAH)

Keywords

• Restaurant operations
• Hospitality management
• Restaurant consulting
• Restaurant brand licensing
• Food and beverage services

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Operations: Cornerstone owns and operates multiple restaurant concepts including Michael Jordan's Steak House, MJ23 Sports Bar, Sol Toro, Urbanbelly, Dimmi Dimmi, Table at Crate, and others. Revenue is generated through direct restaurant sales to consumers.
2. Consulting Services: Provides consulting services to revitalize food and beverage businesses including market trend analysis, menu development, operational audits, financial analysis, marketing strategy, and expansion planning.
3. Licensing and Brand Partnerships: Partners with legendary brands to assist with development and positioning in hotels and food halls, providing brand standards, restaurant design, menu development, service standards, and marketing support.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Cornerstone Restaurant Group owns and operates a portfolio of restaurant brands — including Michael Jordan's Steak House, MJ23 Sports Bar & Grill, Sol Toro, Urbanbelly, The Table at Crate, Dimmi Dimmi, Brasserie 1783, and Hi-Fi Chicken & Beer — and provides food and beverage consulting and brand licensing services to enterprise partners such as hotels, casinos, resorts, and retailers. The company delivers three service lines: We Operate (full-service restaurant management), We Consult (F&B consulting including menu, operations, and marketing strategy), and We License (brand standards, design, menu, and marketing support for licensed operators).

Product overview

Cornerstone Restaurant Group is a hospitality management company operating a portfolio of restaurant brands and providing restaurant consulting and licensing services. The company operates three core service lines: We Operate (ownership and management of restaurants), We Consult (food and beverage business consulting), and We License (brand licensing for hotels and food halls). The restaurant portfolio includes upscale steakhouses (Michael Jordan's Steak House), sports bars (MJ23 Sports Bar & Grill), Mexican cantinas (Sol Toro), Asian concepts (Urbanbelly, Chef Bill Kim's Ramen Bar, bellyQ, Belly Shack), French dining (Brasserie 1783), casual Korean fried chicken (Hi-Fi Chicken & Beer), Italian (Dimmi Dimmi Corner Italian), and retail partnerships (The Table at Crate). The company serves diverse clients across restaurants, hotels, casinos, universities, and international resorts.

Differentiator

Problem solved

Functional benefit

Brands

• Michael Jordan's Steak House: Upscale steakhouse with locations in Chicago, Connecticut, and Seoul, South Korea, serving finest steaks, perfectly prepared seafood, and world-class wine selection.
• MJ23 Sports Bar & Grill
• Sol Toro
• Dimmi Dimmi Corner Italian
• Brasserie 1783
• Hi-Fi Chicken & Beer
• The Table at Crate
• Urbanbelly
• Chef Bill Kim's Ramen Bar

Named customers6 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered flagship, strategic, core and historical.

• INSPIRE Entertainment ResortflagshipStrategic or Co-development Partner · 1 January 2023International expansion partnership in South Korea. Developed first international Michael Jordan's Steak House, second MJ23 Sports Bar & Grill location, and two new concepts: Brasserie 1783 and Hi-Fi Chicken & Beer.
• AramarkstrategicStrategic or Co-development Partner · 1 January 2021Partnership to bring five unique dining concepts to Purdue University's Memorial Union. First foray into collegiate food service, with concepts under direction of Chef Bill Kim.
• Crate & BarrelflagshipStrategic or Co-development Partner · 1 January 2019Collaboration to develop The Table at Crate, the first-ever full-service restaurant inside a Crate & Barrel store. Located in Oak Brook, Illinois, featuring James Beard-nominated Chef Bill Kim as culinary leader.
• Strategic Hotels and ResortsstrategicStrategic or Co-development Partner · 1 January 2011Partnership to bring Michael Jordan's Steak House and Eno Wine Bar concepts to multiple U.S. locations through licensing agreement with IHG hotels.
• Chef Bill KimcoreStrategic or Co-development Partner · 1 January 2011Longstanding partnership with culinary powerhouse Chef Bill Kim. Developed Urbanbelly, Belly Shack, bellyQ, The Table at Crate, Chef Bill Kim's Ramen Bar, and CBK Pizza & Parm. Chef Kim released award-nominated cookbook and opened first Urbanbelly in NYC in 2022.
• Mohegan Sun CasinocoreStrategic or Co-development Partner · 1 January 2001First hospitality group to sign a management deal with Mohegan Sun Casino in Connecticut. Developed Michael Jordan's Steak House, MJ23 Sports Bar & Grill, and Sol Toro Mexican cantina at the casino property, operating for over 20 years.
• W HotelshistoricalStrategic or Co-development Partner · 1 January 1999Partnership beginning in 1999 to open four restaurant concepts in Chicago, Mexico City, and New Jersey over the next decade. Cornerstone managed operations, on-site banquets, and room service.
• Michael JordancoreStrategic or Co-development Partner · 1 January 1992Over 25-year partnership developing Michael Jordan-branded restaurants including Michael Jordan's Steak House with four U.S. locations and one international location in South Korea, and MJ23 Sports Bar & Grill. Also developed 160blue and private golf club dining at Grove XXIII.

Scale indicators5 records

Recent moves22 records

Expansion highlights5 records

Direct peers

• Lettuce Entertain You Enterprises: Chicago-based multi-concept restaurant group operating upscale, casual, and ethnic brands with in-house concept development. CRG's COO Danny McGowan spent 30+ years as a partner there, and both groups compete for the same Chicago talent pool, enterprise hospitality partners, and celebrity-chef collaborations.
• The ONE Group Hospitality: Operator and licensor of upscale steakhouse and lounge concepts (notably STK), with a hybrid owned-and-licensed business model very similar to CRG's Operate/Licensing pillars. Comparable mix of hospitality-venue placement (hotels and resorts) and celebrity-leaning brand identity.
• Hillstone Restaurant Group: Multi-concept upscale-casual restaurant operator (Hillstone, R+D Kitchen, Honor Bar) with national footprint and strong corporate event business. Comparable in portfolio breadth, full-service execution, and HR pipeline; CRG's VP of People came directly from this group.
• Del Frisco's Restaurant Group: Operator of upscale steakhouse brands (Del Frisco's Double Eagle Steakhouse, Sullivan's) historically placed in hotels and business districts. Comparable check averages, banquet/private events business, and enterprise hospitality positioning before its 2019 take-private.
• Ruth's Hospitality Group: Publicly held operator and franchisor of the Ruth's Chris Steak House brand, with company-owned locations inside hotels and resorts. Closest comparable to CRG's Michael Jordan's Steak House in menu positioning, hotel co-location strategy, and franchise/licensing economics.

Others

• Aramark: Large-scale institutional foodservice and hospitality partner—specifically relevant because Aramark is CRG's JV partner on the Purdue University Memorial Union food hall. Useful as a strategic channel partner rather than a competitor, illustrating CRG's go-to-market through established institutional operators.

Broad incumbents

• Landry's Inc. Diversified hospitality and restaurant conglomerate owning steakhouses (Morton's, Mastro's), casino resorts (Golden Nugget), and entertainment venues. Overlaps with CRG in upscale steakhouse operations and integrated-resort F&B management, though at materially larger scale.
• Bloomin' Brands: Multi-concept restaurant operator (Outback, Carrabba's, Bonefish Grill, Fleming's Prime Steakhouse). Fleming's is a direct upscale-steakhouse comparable, and the broader portfolio mirrors CRG's strategy of running diverse concepts at different price points.
• Dine Brands Global: Franchisor of Applebee's and IHOP, with a licensing/franchising-led business model analogous to CRG's 'We License' pillar. Different price point, but a relevant reference point on scaling restaurant IP through partner operators rather than owned real estate.

Emerging players

• ESquared Hospitality: New York-based boutique restaurant group operating celebrity-chef-driven concepts (e.g., Indian Accent, Charlie Bird). Smaller and more regionally focused than CRG, but a comparable operator that monetizes chef IP through owned venues and consulting work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cornerstonerestaurantgroup
• LinkedInlinkedin.com/company/1805493
• Instagraminstagram.com/crgchicago

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cornerstone Restaurant Group