Developer and restaurateur Steve Zhao has lived in Springfield for more than two decades and during that time has been involved in projects across the city and beyond. He’s developed multiple retail strip centers, often anchored by a restaurant in which he is involved. In addition to projects in Springfield, he’s also built shopping centers in Decatur and Champaign.
Zhao has been involved in Springfield restaurant ventures including the Izumi Rotary and Bar sushi restaurant on Wabash and the Hibachi Madness locations on West Wabash Avenue and North Dirksen Parkway. He also owns the Asian Market on Wabash and the building next door at 1322 Wabash that now houses Hummus Republic and Annie’s Place, as well as the MacArthur Boulevard building where Feast Buffet is located. Currently, Zhao is building a 53-unit apartment complex in Chatham, next to Glenwood High School.
Steve Zhao’s current project is a 53-unit apartment building he is constructing next to Glenwood High School in Chatham. PHOTO BY ZACH ADAMS
Zhao lives in Springfield with his wife, Vicky Wu, and two children — a son, 14, and daughter, 13.
Where were you born and raised, and what was your first job?
I was born and raised in a small village near Fuzhou, China. It’s in southern China in the Fujian Province. At the age of 12, I immigrated to Springfield with my mom and brothers, and my first job was being a translator for my dad. He paid me a little bit, and he took me everywhere he went, talking with business owners, reading his letters and making phone calls for him. So translating for him actually helped me quite a bit later on.
What drew you to Springfield?
My dad opened a restaurant here in 1997, the First Buffet. Then my mom, my brother and I moved here in 1998. I stayed in the city because I fell in love with it. I like it here. It’s not so noisy, everybody’s so quiet, and the people are great.
Steve Zhao and his wife, Vicky Wu, select a king crab for their
dinner. PHOTO COURTESY STEVE ZHAO
Is Springfield becoming more open to patronizing establishments that offer experiences from other cultures?
From what I have seen they are more willing to try new things. Most of the restaurants that we have opened, the first couple of months were great. They were always busy, and I’m assuming that’s because people want to try new things. In this town, as long as you provide good food and the price is right, they’re more than happy to come.
What challenges have you faced with getting your businesses and developments approved?
There’s not really a whole lot of challenge because I’m very conservative when it comes to business. I usually double-check with my attorney, check with the city, check the regulations, making sure everything is good. So if the city said no to a project, I’d usually just walk away and not take any more action or spend any more time on it. Aside from those instances, I really don’t have many challenges with my projects.
How do business owners like yourself demonstrate an entrepreneurial spirit?
You have to be aware of your surroundings and have strong connections with others. I have a couple of brokers that I work with, and I always talk to them to see what’s going on with the city of Springfield. Also, stay focused. If somebody else fails, it could be your No. 1 opportunity, right? With that being said, I always keep my mind open for other projects.
What are the key factors in starting a successful and long-lived small business?
You’ve got to be willing to sacrifice your personal time and be on call 24/7. I have two phones, and they are both always on. You have to be patient with others. You can’t get angry because they don’t always see what you see. Be patient with your employees and treat them like family. They are assets, not tools, so treat them well. If you treat your employees well, they will always return the favor.
What can be done to even the playing field for all business owners and developers, regardless of ethnicity?
The key step for everybody is to work hard, obey the regulations, exercise caution and don’t cut corners. I know a lot of people try to cut corners, and it always ends up making projects go even longer than they anticipated.
I don’t feel disadvantaged being an Asian entrepreneur in Springfield. I have great people to work with, and I haven’t experienced much bias in decisions involving me. I’m pretty happy with where I am.
What advice would you give to young people who are just entering the work force?
You have to work hard and listen to others, especially the people who are willing to give you advice. During my life I have had quite a few people give me advice, and that has been a key factor in my success. Also treat your family well. A happy family will give you positive energy and the motivation to be more productive while you are at work. Always strive to learn about more things, and if you don’t know something, ask; don’t hesitate.
What may people be surprised to know about you?
I’m not really an outgoing person. I consider myself kind of shy. Most people see this great businessman, but I don’t socialize with a lot of people. But that’s one thing I am working on.
This article appears in July SBJ 2026.