The historic Schmidt Brewery’s Rathskeller building on West Seventh Street has been sold to the Minneapolis-based Molina Investment Group for more than $2 million, according to the Minneapolis-St. Paul Business Journal, which reported that a sizable portion of the 20,000-square-foot building could be converted into a Brazilian steakhouse.
The building, at 882 W. Seventh St., was sold to Texas-based JTS Capital 3 LLC in a foreclosure auction last year for $1.6 million after its former owner, Craig Cohen, defaulted on a $3.2 million mortgage. Cohen had also redeveloped the building next door into the Keg & Case Market, which opened opened in September 2018, but with only a handful of commercial tenants remaining, MidWestBank One took deed and title to the property last October, the first step in positioning it for a likely sale. Cohen filed for personal bankruptcy protection in April.
The Business Journal reported that Wilson Molina is renegotiating leases in the 1930s-era Rathskeller building, which recently featured event space for Mancini’s Char House, as well as the offices of the West Seventh/Fort Road Federation, the ROK Music Lounge and Bar, and a wholesale bakery associated with the Rose Street and Patisserie 46 retail outlets.
Related Articles
Just a drill: Training at Macalester College in St. Paul will draw emergency responders Tuesday
Violent Crime unit teaming BCA agents with local cops to focus on guns, drugs
St. Paul, native community break ground on Wakan Tipi Center in Dayton’s Bluff
Charges dismissed in attempted murder case outside St. Paul store
Hey Charles Barkley: Forgetting your Minneapolis visits? Here’s where to find a more memorable meal in St. Paul.
Leave a Reply