DALLAS (CBSDFW.COM) – After months of speculation the owners of a Dallas landmark eatery confirm they’re closing up shop.

Theodore “Tommy” Melios, is one of four brothers who immigrated to the U.S. in the early 1970’s from Greece and set out to achieve their American dream with Melios Char Bar restaurant.

For 48 years the eatery in Dallas’ Lower Greenville has served up cheap eats and great times for generations of faithful patrons.

Tommy says unfortunately the time has come to close because they just can’t afford the price of business along one of the city’s most sought out retail and entertainment areas.

He added, “The price is too high to high…property taxes. Rent is too high.”

He says when they first started, rent was $500 a month and now it has soared to an amount they can’t sustain.

When asked what the secret has been during the years to keeping countless customers coming back Mr. Melios said, “Love, respect, respect the people. That’s it.”

Melios Char Bar will close its doors for the last time on September 22.

The owners of the property did not respond with a comment by the time this story was published.