In 1993, Mike Libby purchased Nick's from the Carabellas family and opened Mike Libby's Bar and Grill, a longtime favorite for students and locals. In May 2000 the restaurant suffered a devastating fire. Mike Libby emerged from the ashes of the fire and reopened in March of 2002 offering a bright, comfortable lounge and dining room. Mike Libby's was an instant favorite with the local community and students alike. Mike continued to run the restaurant until he passed away in May 2006. At that point, Mike's mother, Sophia assumed ownership of the restaurant.

In October of 2007, Sophia entrusted Mike's legacy to longtime employees Peter Marcoux and Jay Mayuski. This legacy includes serving the highest quality food and drinks and providing excellent service for their customers. Mike Libby's continues to be the favorite restaurant and lounge of the local community and students.