Area investors purchase Old Louisville Inn
Last Updated: 16:18 October 24, 2013
Historic 740 Front Street LLC purchased the building Friday from Clover Clan LLC, which had paid $165,000 for the property in 1994.
Garrett McCarthy, who operated an Irish pub at the location until its closing in September, was manager of Clover Clan and is staying involved with the building as a partner in Historic 740 Front Street. The purchasing group also includes Gibbons-White Inc. broker Steve Sims, Louisville attorney John Gstalder, eye doctor Hale Kell and Mark Jarman, president of Louisville-based tech company Inovonics Corp.
"We're all Louisville people and thought it would be kind of a fun project to be involved in," Sims said Thursday. "The history of the bar is pretty cool. That's what's kind of neat."
The new owners intend to renovate the 109-year-old, 2,600-square-foot building and build an addition of about 1,000 square feet that will include more seating for the restaurant as well as upgraded restrooms. The owners also plan to seek landmark status, which could open up some funding for preservation of the building through the city of Louisville's historic preservation commission.
Sims said he didn't yet have an estimate for the cost of the planned renovations and addition.
Sims said the group is hoping to have a new restaurant operating in the building by springtime, though he said the group isn't in negotiations with anyone yet.
"We have lots of sort of ideas of who we'd like to be interested in it," Sims said. "We've reached out to a few different groups."
The building has had a colorful history, including rumors of it being haunted. But it's also in a prime location, nestled between downtown and the future Downtown East Louisville development, a major mixed-use project just across the railroad tracks from the Old Louisville Inn.
"It has long been a dream of mine to see this beautiful old building properly preserved and restored and yet still be comfortable and modern enough to thrive," McCarthy said in a press release. "Hopefully it will continue to operate as an important community gathering place for another hundred years."
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