JOLIET, IL —This year's coronavirus pandemic has been devastating for the economics of indoor music venues across the nation including The Forge in downtown Joliet at the corner of Cass and Chicago Streets. According to a listing on LoopNet, a real estate company is trying to find a new buyer for The Forge. The latest asking price to own the business has been lowered to $299,000.
The original listing had The Forge priced at $599,000.
To clarify, the transaction would not include the building at 22 W. Cass St.
" Major Price Reduction! Two-story, multi room Nightclub and Live Music Venue located in downtown Joliet," the business listing on LoopNet touts. "Beautiful live entertainment and music hall featuring a VIP Lounge/Private Party room and full kitchen. Venue hosts music any night of the week and is available for rent for all occasions and to outside music promoters."
The Forge has a lease with John Bays and Bays Investment Co., occupying about 10,600-square-feet of space within the commercial building. The listing indicates that rent is $11,500 per month.
Since April 2017, The Forge has operated as a night club and music venue on the first two floors, hosting hundreds of music concerts of all genres since opening.
Kudan Group is listed as the real estate agent trying to sell The Forge.
Joliet Patch left a message seeking comment with the Kudan Group on Monday, but no one called back for comment.
In any event, the real estate listing indicates the business is for sale because the owner is moving away. For much of this year, The Forge, like the Rialto Square Theatre a block down the street, was forced to cancel or postpone many of its booked concerts because of the coronavirus.
During its run in downtown Joliet, The Forge has attracted several well-known national bands to perform inside its music venue. Last November, The Forge hosted Ministry, this past January, Sleeping with Sirens played its sold out concert at The Forge. In 2018, The Forge hosted an outdoor music festival called Rock The Block featuring Marcy Playground Everclear and Local H as the headliners.
The Forge's Facebook page shows 27,764 Likes and 48,471 Facebook Check-Ins for concerts.
According to its website, The Forge remains open this October and six live music concerts are booked between now and the end of 2020. Another eight concerts are booked for 2021.
Prospective buyers of the business are asked to not contact members of The Forge, according to the LoopNet listing. After all, The Forge remains an operating business. "Do not disturb employees or management," the LoopNet listing advises.
Are you in the market to own your own nightclub and music hall? If so, you should check out the listing for The Forge right here.
This show is officially SOLD OUT! Your lineup: ADELITAS WAYCOLE HOLLOWIgnescentStolen SkiesFor those who missed out on tickets, we will be live streaming this show. Stay tuned for details!
Posted by The Forge on Sunday, October 11, 2020