Castaways at North Avenue was closed last season for renovations.
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Now, the Stefani Restaurant Group said the venue will reopen over Memorial Day weekend, with the new name "Castaways Beach Club."
They said it will bring the atmosphere of a modern beach club, with an elevated look and menu.
Cabanas will be available to rent, and the venue will be open for private events.
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"The lakefront is Chicago's front yard and Castaways has long been part of that - we are thrilled to deliver a new and refreshed experience this summer," owner Anthony Stefani said.
The same restaurant group is also bringing back Tavern on Rush.
Visit www.castawayschicago.com for more information.