The area once had a large Greek American population, but many residents have left the neighborhood, spreading throughout Chicago and the suburbs. Today, Greektown consists mostly of restaurants and businesses, although a cultural museum and an annual parade and festival highlight the continuation of Greek heritage in Chicago, and — unlike such Chicago neighborhoods as Pilsen and Little Italy, which have lost their original ethnic character — it remains essentially Greek.
On the night of January 31, 2010, a 4-alarm fire ravaged Costa's Restaurant, affecting two nearby stores. The restaurant is now considered a write-off. One of the businesses that was destroyed in that fire, Greektown Music, has since reopened on Halsted street next door to Artopolis Cafe & Bakery.
The current Greektown location dates to the 1960s; it replaced Chicago's original Greek neighborhood, known as "The Delta," which was displaced by the University of Illinois at Chicago.