The Wakery opened downtown a little over two years ago, but owner Elizabeth Wake said the business has not proven to be sustainable, despite a strong public reception and winning several awards.
"A lot of times a business closes and people say, 'I didn't even know that place existed,' so then you know it's more of a marketing issue," Wake said. "But when a business as well-known and well-loved as ours can't make it, that should be a catalyst for change."
The Wakery opened in April 2023 as a new concept for downtown, a late night coffeeshop and non-alcoholic bar. It was recognized as the best new business downtown and best new bar in the Illinois Times Best of Springfield readers' poll later that year.
The 1,500-square-foot space at 5 Old State Capitol Plaza previously housed Long Nine Junction. The Wakery was the first recipient of the $20,000 Isringhausen Drive Grant, which benefits newly established businesses in the downtown area, and helped Wake transition from being a vendor at the Old Capitol Farmers Market to opening a brick-and-mortar location.
However, Wake said the June 19, 2024, fire on Adams Street proved to be a turning point.
"Downtown businesses were struggling before... Unfortunately, the fire created further setbacks, and our business has not been able to bounce back." she said.
Wake said that her monthly sales for the year following the fire were down 67%, compared to the year prior. She adjusted her operating hours to focus on private rentals and events and hoped that warmer weather would lead to increased foot traffic.
"With the promise that Adams Street was going to be open in the spring, I was hopeful that downtown would be on the upswing," Wake said. "March and April were slower than I would have liked, but I realized we were getting back in the swing of things. In May, we broke even. But in June, we were down 27% from where we needed to be to break even.
"The summer months are supposed to be our buffer months to make it through the cold winter with no tourism or foot traffic," she said. "When you're a small business, you're typically barely making ends meet as it is. I haven't been paying myself."
Wake said while she, like many other business owners, put in personal funds to keep things going, she didn't want to risk bankruptcy or losing her house, particularly since she "didn't see things turning around to be able to take that risk."
Wake, who recently completed her master's degree in public administration from University of Illinois Springfield, said she is "actively job searching and looking for what's next and how I can serve the city."
As for the business, the brick-and-mortar location will close Aug. 10, and Wake described her landlords as "amazing" and "very supportive," noting they are working with her on wrapping up the business operations. She plans to continue to offer wholesale options for businesses, and customers can find The Wakery's drinks at two other downtown businesses, The Cat's Pyjamas and Fluid, plus The Railyard. Wake said she will also host pop-up events, particularly around the holidays, and may offer classes in making non-alcoholic cocktails.
While Wake said the decision to close has been a huge struggle for her, she also hopes it serves as "a wake up call" for "the city, Downtown Springfield, Inc. and any organizations that care about and support downtown. Unless things change, we are not the last business downtown that's going to close this year," she said.
