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This article was published 4/7/2018 (469 days ago), so information in it may no longer be current.
Osborne Village nightspot Jekyll and Hyde’s Freehouse abruptly shut down this week, leaving yet another empty facade in the Village, but the Free Press has learned the space won’t be empty long — KAI Properties and the Norman Hugh Group (NHG), two local real estate companies, purchased the property in an off-market transaction for $4.25 million in January.
The companies purchased 130 Osborne St., which houses Green Carrot Juice Co., in the same deal. Stradbrook Chiropractic Centre and Eyes in the Village are also part of the property.
NHG is a minority owner and the developer, and KAI Properties is the majority owner. The two companies are investing $1 million into redeveloping the 16,000-square-foot property into a retail space.
The previous owner let the property sit undeveloped for 20 years, NHG president David Bell said in a phone interview.
"It’s one of the best pieces of property in the Village," Bell said, adding the companies plan on turning it into the best urban retail space in Osborne Village.
Development is already underway, and has been for 45 days, Bell said.
The developer is restoring the building’s original brick facade, replacing doors and windows and gutting the former Jekyll and Hyde’s space. Workers started restoring the facade of 130 Osborne St. on Wednesday.
"It’s going to heat up in the next few months," Bell said, referring to construction on the property.
The plan is to turn the former Jekyll and Hyde’s into three different retail spaces. One space is already leased to an undisclosed retailer.
Development is expected to be complete by the fall. Bell said the spaces will be leased out by the time development is done. The property also includes a 35-stall parking lot behind the properties.
Meanwhile, Jekyll and Hyde let its employees go with no notice on Tuesday, according to a Facebook post made by Rylie Saunders, a local musician who runs the Village Idiots, a live music venue, and hosted an open mic at the bar.
Kaye’s Auctions, a local auction house, is auctioning off all of the bar’s kitchen equipment, furniture, lighting and stage equipment and other miscellaneous items this Sunday. All the equipment needs to be removed from the site by Tuesday, July 10, according to Kaye’s.
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Updated on Thursday, July 5, 2018 at 6:21 AM CDT: Corrects references to Norman Hugh Group and KAI Properties
6:36 AM: Corrects cutline