Know Vacancy: 200 Adelaide Street W

Location: 220 Adelaide St. W.

Formerly: Loose Moose (before it moved to 146 Front St. W.); Milwaukee’s Grill, Tap & Bar

Vacant Since: 2007

Size: 8,000 sq. ft. total over two floors

Price: The former real-estate agent for the space, Homelife/Bayview Realty’s Joe Cunjak, said the price was $30/sq. ft.—or $24,000/month—but current agent Paul Cheevers of Lennard Commercial Realty says the price has been withdrawn while the owner solicits new offers.

Length of lease: A fixed five-year term at market rent, with two five-year options at fair market.

Renovations required?: Needs to be completely renovated. Has been semi-gutted, and though it still has some previous fixtures but needs to be fully gutted and requires a complete build out.

False starts: Three different restaurateurs have shown interest in acquiring the space over the years, including the US chain Coyote Ugly in 2009.

Why has the space been vacant for so long?: Though Cunjak is discreet with details, he did admit that the location is now vacant because the previous tenants defaulted on the rent. It’s remained vacant for so long because, according to Cheevers, it is very difficult to get a liquor licence in this area. The stretch of Adelaide between University and John has fallen on hard times lately, with a number of vacant bars on the strip. Offices and condos are now being built in the area, and these new residents are not crazy about having nightlife pick up on their street. According to both agents, the property is now being redeveloped into an office space and the owner will be opening it up for bids in the next few weeks.