In the city of San Francisco, skyrocketing rents have not only put the financial squeeze on residents but businesses, too. And that includes some that have held a special place in the community for generations.

At 56 Ross Alley in San Francisco's Chinatown, you'll find a uniquely Chinese-American treat that's also made in a one-of-a-kind way.

The Golden Gate Fortune Cookie Factory in San Francisco's Chinatown has been here for 57 years.

Recent media reports indicated the store's rent was becoming so high that it might not make it to the 58th anniversary.

“If they are forced to leave because of high rent then other larger companies would take it over and there's a chance of tearing down places like this to turn it into big chain places which would be sad,” said teenager Elektra Wood, who was visiting with her family from Portland. “Things like this have been in people's history.”

Her younger sister, Roxy, cracks open a fortune cookie and reads it aloud.  

“We must always have old memories and young hopes,” Roxy said.

That fortune ironically encapsulates the blend of new and old that The Golden Gate Fortune Cookie Factory is trying to maintain.

This is the last shop in the United States, and possibly in the world, that makes fortune cookies by hand.

With the help of a customized waffle maker, a worker can make up to 400 cookies an hour.

I watch co-owner Kevin Chan grabs hot shells hot off the waffle maker and fold them immediately at amazing speeds.

“When you open it up, you have to catch it in four seconds. Four seconds you got to make them. Look at that one is more than four seconds, I try to make it, it doesn't work,” Chan said. 

He shows me how a shell that has cooled down after four seconds hardens and cracks when folded. Unacceptable.

I'm curious. Are those shells really that hot when he grabs them?

“No, you don't want to touch it,” Chan warned.

But I persist and grab one.

“Oww!”  I yell as it becomes apparent that the workers here have developed the ability to withstand the heat.

Chan confirms with me that in recent years his store's rent has tripled and put the factory in jeopardy.

But he says, fortunately, they were just able to strike a deal with the landlord to stay put.

I ask him how close the shop came to shutting its doors for good.

“It's close, yeah,” Chan said. “I don't want to disclose anymore. Because this has stopped now. I still feel the pressure because of that. Just too much.”

Chan said he's not alone in feeling the pressure of high rents. 

And he admits a lot of other businesses have it worse.

As I take a walk on the streets of San Francisco's Chinatown, it's easy to find plenty of signs that numerous stores and shops have recently closed.

Two major factors are a housing shortage and the fact that big-money tech companies drive up the property market.

In fact, the property site Zumper just released its national rental report that found San Francisco's is the highest in the country.

A one-bedroom apartment goes for about 3,700 dollars a month. At number two was New York, which was nearly 1,000 dollars cheaper.

Legacy businesses find themselves at the crossroads –selling an old school product in a new economy.

In the downstairs area of the small factory shop, the walls are filled with beautiful Chinese finger paintings and plenty of photos documenting the factory's history.

Kevin points to a photo from around four decades ago that shows his mother, Nancy, manning the fortune cooker waffle maker.

“She is actually the one doing the batter,” said Chan. “She is the one that knows the recipe for life.”

Nancy still works here today.

When asked if anything has changed about the way she's made cookies in over four decades, the answer is simple.

“No,” she quickly responds while moving on to folding her next cookie.

And when asked whether he should bring in automated machines or just rent a just small space for deliveries only, Kevin's answer is also a simple – no.

“Right now people order stuff on the internet, that's why I want to keep this business. I want you to come in order to taste my cookies. I could sell this online and then they will never see how it's made. I could have easily closed the door. Right now I'm open to the public and they love to see it,” Chan said as he pauses to make a few more cookies.

“I want them to come in to see how the cookie is made personally and get a feel of it, and also to get to know the city, get to know Chinatown, get to spend some money in the community rather than spend it on the internet. Because right now we need jobs. We need jobs and we need to survive.”

“I'm from Portland and we have our Lonely Planet book and made our way here because this is such a big part of the history here,” said tourist Shelby Wood, who brought her two daughters.

With green tea and strawberry flavors and even ones with sprinkles and chocolate fondue toppings, Golden Gate is certainly a crowd pleaser.

It even offers customized fortunes. All you have to do is text what you want it to say.

I crack open one that says: “Your show will inform billions of viewers around the world.”

Then I crack open another one that reads: “You will win a best abs contest.”

I tell Chan I'm definitely keeping that one.

As I look on the wall, I see the Chinese characters that read “Happiness is Serving You.”

It appears he has successfully followed that motto by satisfying yet one more customer.