CONLON Tapped to Sell Famous Rib Joint

Is your real estate flip in need of a rescue? APPLY NOW to be on The Deed: Chicago.

CONLON Tapped to Sell Famous Rib Joint

Press Release

 

The owner of the Fireplace Inn, an Old Town bar and restaurant that’s best known for its ribs, has hired CONLON Commercial to sell the building and the business.

The Novak family has owned and operated the eatery at 1448 N. Wells St. for nearly 50 years. The asking price is $7 million. The listing agents are Marcus Cook, of CONLON Commercial, and CONLON Commercial President Steve Horvath.

News of the listing was featured in Crain’s Chicago Business.

The Novak family is “exploring their options,” Cook tells Crain’s. “They want to see if there’s the right buyer to redevelop it.”  

The restaurant, which remains open, is located in the heart of Old Town. The two-story building has 6,578 square feet in the ground-floor restaurant and 3,240 square feet of apartment space on the second floor. There also is an outdoor eating area.

The restaurant originally opened in 1966. The Novak family bought it three years later.