12/22/2011 01:42 pm ET

Giuliana And Bill Rancic's Restaurant: New Eatery To Be Named RPM Italian

E! News co-host and television personality Giuliana Rancic's new restaurant, which she is opening with her husband Bill along with the Melman siblings of Lettuce Entertain You, is aiming to open in the city's River North neighborhood in late January under the name of RPM Italian.

The name, according to E! News, reflects the initials of the Rancics, the Melmans (R.J., Jerrod and Molly) and the restaurant's chef Doug Psaltis.

Though Rancic had originally considered naming the restaurant Mama DePandi's, after her mother, whom inspired the dishes the restaurant will be serving up, she told E! that name sounded too "Old World Italian."

The restaurant, as NBC Chicago previously reported, will be located at 52 W. Illinois in the space previously occupied by Ben Pao, which closed in September. On the Rancics' Style Network show "Giuliana & Bill," the couple had been attempting to decide whether they'd open a restaurant in either Los Angeles or Chicago. Ultimately, of course, they chose the Windy City.

Rancic, 36, was diagnosed in October with breast cancer and underwent a double mastectomy. Since the surgery earlier this month, her husband Bill said last week that Giuliana is doing "really well" as she recovers from the procedure.