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After 10 years of award-winning dining, Michelin-starred Paramount Room is closing its doors.

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After September 30, Chicagoans will no longer be able to eat at the River West institution known for its gastropub fare.

Jon Young, co-owner, told the Tribune rising costs, including mandatory wage increases and a gentrifying neighborhood, were among the main reasons the legendary dining spot is shutting down this fall.

He also said maintaining the high-quality level of food was part of the reason his restaurant was forced to announce its closure:

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“It’s trickier being a chef-driven concept,” he said in an interview. “It does make it a little bit harder keeping that price point in the middle ground.”

Sustaining press was another problem for Young and his team, despite continuous efforts to rotate the beer menu and winning several local awards, like the “Most Overlooked Cocktail Bar of 2014.”

Although set to close in less than two months, loyalists will be able to get their fill of wagyu burgers and $1 oyster happy hours thought its final days.

Young even said PR will still host its 10-year anniversary celebration on August 27:

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“Our plan is to go out with some events and get friends and industry people to come and raise a glass and celebrate.”

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Thanks for the memories, you guys.

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