Highwood’s new Silver Dollar denied liquor license, criticized for name choice

Plans to open the Silver Dollar, a new bar set for 432 Sheridan Road in Highwood, have hit a roadblock after the City’s recent denial of its liquor license application.

Proprietor Howard Hughes, who also owns the Wooden Nickel bar in Highwood, wants to open Silver Dollar in the former Teddy O’Brien’s space, as The Record previously reported, but the license denial has delayed its debut. 

Via a letter addressed to Hughes, Highwood Mayor Charles Pecaro denied the liquor license to The Silver Dollar on Tuesday, Oct. 5, about two months after the City of Highwood entered into an agreement with Hughes to open the tavern. That agreement, according to the denial letter, was contingent on a liquor license, among other requirements.

Additionally, City Manager Scott Coren said that the city discovered that former Teddy O’Brien’s owner Ted Banick was involved with opening the Silver Dollar, a fact not made known to the City. Banick is listed as the business’s registered agent in its articles of incorporation filed with the state in March.

In denying the liquor license, the city of Highwood cited three reasons in the letter to Hughes: 1.) The incorporator of the business applying for the license (Banick) was “not made known” to the City of Highwood and did not register fingerprints, 2) Hughes reportedly did not disclose Banick’s involvement in the initial application with the City of Highwood, and 3) Hughes did not provide a list of any criminal arrests or convictions for individuals listed in the articles of incorporation, a requirement of the City code.

Teddy O’s, as the former bar is locally known, closed in 2025, and Banick attempted to bring it back to no avail earlier this year.

Banick did not return a message from The Record by press time.

The City, Coren said, will wait until the property owner works with another individual to consider a liquor license application.

Meanwhile, Hughes is “still figuring out” next steps. As Hughes still owns the building, he still plans to open “hopefully someday,” he said, hoping it will work out “in the end.” 

Other Backlash

The Silver Dollar had another problem prior to its opening.

Locals with close ties to the “old” Silver Dollar — a former bard at 336 Green Bay Road in Highwood, which now houses The Humble Pub — criticized Hughes’ choice to recycle the name. 

The Silver Dollar was a Highwood staple from when it opened in 1947 to when the owner sold it to The Humble Pub in 2015. 

With the death of old Silver Dollar owner Bobby Palmeri in March of this year, some residents did not appreciate Hughes choosing the same name for his new venture.

In the comment thread of a Facebook post, and in conversations with The Record, Bobby Palmeri’s sister, Karen Palmeri, said the use of the name was “disrespectful.” Stephanie Garrity, the wife of longtime Silver Dollar bartender Tommy Garrity, called it “unkind,” and Joe Lorusso, another bartender of the original Silver Dollar, called it “classless.”

“I believe that my brother made the Silver Dollar what it was at the time,” Karen Palmeri said. “And his faithful bartenders think the name should rest in peace, just like my brother.” 

She added that the legacy of the Silver Dollar should not be taken by someone who hasn’t contributed to it. 

Stephanie Garrity and Lorusso described The Silver Dollar as a place where a lot of family and history was passed down. At the beginning, according to a Chicago Tribune story, it was husband-and-wife duo Art and Nellie Fraulini who ran the tavern. 

Bobby Palmeri then got involved, eventually owning the place with Kevin Fraulini, Art and Nellie’s son, once the couple retired.

Like Karen Palmeri, Stephanie Garrity found it “unnecessary” and “malicious” for Hughes to draw from the reputation and the character of the business that has been in Highwood all these years. 

Stephanie Garrity, Karen Palmeri and Lorusso agreed that they are not against the new bar, just the name.

Stephanie Garrity and Lorusso called the Silver Dollar a local institution, giving more reason why not to take the name. Lorusso said taking the name was the “absolutely wrong move.”

Hughes’ Perspective

Hughes recognized that the Silver Dollar is a Highwood tradition and said his using the Silver Dollar name was a “tribute” to the people who used to own and work at the original bar. 

Before he proposed the name to the City, Hughes reportedly called Kevin Fraulini, co-owner of the old Silver Dollar, and said he received his his permission and blessing.

When The Record reached Kevin Fraulini, he declined to comment. 

“I’m sorry [people who don’t like the name] feel that way; they are entitled to their opinion,” Hughes said. “We did it as a way of honoring the old-school Highwood people. It wasn’t a slight to anyone.” 

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