A reader asked us about 100 Market St., the long vacant bar at the corner of Front and Market Sts. with the stellar old timey sign. The property is currently under construction.
As it turns out, this historic building has a fairly interesting recent history. Though it had been empty for decades, ESK Ventures purchased the property for over $1.2M in 2005, and two years later obtained necessary approvals to open a bar and restaurant on the first two floors. We’re assuming that financing fell apart when the economy tanked, and by 2010, the bank had foreclosed on the property, ultimately taking it over after the Sheriff’s Sale. In June of this year, Erik Sobkiewicz and Aaron Kavulich of Rag LP purchased the property for the low, low, (entirely reasonable) price of $657K, and intend to move forward with a food and drink concept.
According to minutes from the OCCA Developments Committee August meeting, the owners will run the bar and restaurant out of the first and second floors, and will use the third floor for offices and space for meetings and/or catered parties scheduled in advance. The fourth and fifth floors will be a single, bi-level, residential unit that will probably be occupied by Mr. Sobkiewicz. Architects for the project are Tackett & Company. Also, from what we can tell, a flat sign will be added to the building to advertise the business. We’re not sure whether that means that the existing sign is a goner. We sure hope not.
Michael Klein reported on this back in August, and he suggested that the restaurant will have a new American themed menu, with locally sourced ingredients. Mr. Klein also wrote at that time that the opening date would come in November. Well, you know how tricky these construction projects can get.
Then again, considering how long Old City residents have waited for something at this corner, a couple more months hardly seems like a big deal.