Who Wants to Buy the Old Tony Luke’s in South Philly?

There was a time when a quadrumvirate of old-school cheesesteak power players ruled Philadelphia: Pat’s, Geno’s, Jim’s, and Tony Luke’s. Depending on when you’d visit, all had unreasonably long lines. But the Tony Luke’s organization fell into disarray beginning in 2015, when a family feud erupted between the garrulous Tony Lucidonio Jr. — the longtime face of the restaurant, aka Tony Luke — and his father, Tony Lucidonio Sr., and brother, Nicholas Lucidonio, as Tony Luke franchised the operation. There were lawsuits. There were many accusations. Bad blood was dripping everywhere like Whiz from a cheesesteak, and all of that took its toll on the original shop. It was never the same.

But now is your chance to stake your own claim as a cheesesteak entrepreneur at the old Tony Luke’s in South Philadelphia and bring the stretch of Oregon Avenue just east of Front Street back to its former glory.

Lucidonio Sr. wants to retire and is selling the bricks and business, which has been called Tony & Nick’s since 2022, when Lucidonio Sr. changed the name from Tony Luke’s as part of a court settlement with Tony Luke Jr. The asking price for the old Tony Luke’s is $3.2 million, and that includes the 2,500-square foot restaurant facility as well as the vacant lot next door. The deal also includes all restaurant equipment, and the staff of 12 is expected to remain under new ownership.

Restaurant management did not respond to multiple messages seeking comment. Arthur Kousombos, the real estate agent representing Tony & Nick’s, declined to comment other than to say that there has been “tons” of interest in the old Tony Luke’s.

In addition to all of the unfortunate family drama, there has also been criminal drama involving the restaurant’s current owners. Lucidonio Sr. and Nicholas Lucidonio both pleaded guilty in a 2022 tax fraud conspiracy, after they hid more than $8 million in cash earnings from the IRS. They were each sentenced to 20 months in prison in 2024.

A since-updated January 2024 Inquirer story about that criminal case suggested that Tony Luke Jr. was, to use South Philly mob lingo, a rat who shared documents with the feds that resulted in the charges against his brother and father. (He was called a “rat” in social media comments, and Joey Merlino took to his podcast and called him a “motherfucker” who “put his father and brother in jail.”) Tony Luke Jr. swiftly sued the Inquirer, saying that was patently false and that he had zero involvement with the case. The paper entered into a confidential settlement with Tony Luke Jr. last year.

So, is $3.2 million a good deal for the old Tony Luke’s? We turned to Philly cheesesteak king Frank Olivieri of Pat’s Steaks fame for insight.

“Tony Luke’s is a great location,” says Olivieri. “It’s the hub of where people jump on I-95 and jump off of I-95 on their way to and from the sports venues. So for $3.2 million, if you’re not making enough money on your investments with your annuities and stuff, I think it’s a great place to buy if you want to go back to work.”

Olivieri does wonder, though, if the cheesesteak business as a whole is a smart investment in 2026.

“Three years ago, it was $2.50 a pound of imported Australian ribeye, and now it’s as much as $8 a pound,” he laments. “Cooper Sharp and Cheez Whiz prices are ridiculous. And then you’re dealing with the people who are on GLP-1s. Two people would come to the window and order two sandwiches. Now they’re ordering one and splitting it.”

As for Tony Luke Jr., who divides his time working as a grief counselor and addiction counselor (his son Anthony III died of a heroin overdose in 2017), writing music, acting, and administering the Tony Luke’s franchise operation and its several locations, he scoffs at his dad’s asking price.

“You know that the business and the property is not worth $3.2 million, right?” he says. “It’s absolutely not, because remember: you’re not buying Tony Luke’s. You’re buying Tony & Nick’s, and Tony & Nick’s has only been operating for a few years.”

But if the price were right, would Tony Luke Jr. reclaim his throne on Oregon Avenue under the famous Tony Luke’s brand?

“I can’t talk about that,” he told us. “I can’t discuss that. I have no comment on that.”

Either way, Tony Luke says he’s far from done with the cheesesteak business.

“I’m really going heavily to rebuild the brand,” he says, declining to provide specific details. “Tony Luke’s needs to come back. It needs to make a resurgence.”