Chicago’s Iconic Italian Fast Food Chain is targeting a valuation of $2.5 billion to $3 billion
Chicago's iconic Italian fast food chain Portillo's Hot Dogs announced plans Monday to take the company public.
Portillo's confidentially submitted a draft registration statement with the U.S. Securities and Exchange Commission, though the company has not determined how many shares will be offered nor the price range.
According to reporting from the Wall Street Journal, the Oak Brook-based company is targeting a valuation of $2.5 billion to $3 billion.
In 1963, Dick Portillo took the first Portillo's hot dog stand to suburban Villa Park, named "The Dog House." Now, the restaurant chain has more than 60 locations across the county, according to the website.
Portillo's has historically been known for its Chicago-style hot dogs, Italian beef sandwiches, chopped salad, fries and chocolate cake, among other favorites.
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