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LINCOLN — The last Bonanza steakhouse in Illinois is closing.

Brett Borst, owner of the Lincoln restaurant at 1121 Hickox Drive, announced Wednesday that the business will close soon.

“We have been here for more than 36 years,” Borst told The Pantagraph. “We have really enjoyed this. We are not happy it is coming to this.”

A slowdown in sales was the main reason for the closure, said Borst, adding that his restaurant is the last Bonanza in the state.

Brett’s grandparents, Barden and Alyce Borst, started a Bonanza restaurant in Springfield in 1967. Fifteen years later, Brett’s parents, John and Marge, purchased the Lincoln Bonanza after it was repossessed by a bank in Champaign. They sold the restaurant to their son in 2002.

“I’m a third-generation owner and we are very proud of this and we will definitely miss it,” he said.

An exact closing date has not yet been set, but Borst estimated he will close in the next 10 days. The restaurant employs about 45 people.