WAUWATOSA, Wis. (CBS 58) -- Beloved founder of Balistreri's Italian American Ristorante has passed away at age 81. 

It was announced on Balistreri's Bluemound Inn Facebook page Friday, Oct. 10. in a statement from family and staff. 

Jim Balistreri founded Balistreri's Caradaro Club Restaurant, later renamed Balisteri's Italian American Ristorante back in 1971.

In 1996, Balistreri purchased on of his favorite restaurants the former Otto and Dianne Wenz Bluemound Inn, which he renamed Balistreri's Bluemound Inn. 

Both spots became flourishing places where family and friends can come together. 

"Jim's dedication to his craft, his customers and his employees built more than a restaurant," read the statement. "He built a community. His spirit of generosity, warmth and hard work will forever be a part of who we are and what we do."