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The founder of the Red Cow burger chain is angling to purchase the long-dormant Little Jack’s building, which sits on a key corner in Minneapolis’ burgeoning Northeast neighborhood.
The Little Jack’s building has been vacant since the steakhouse closed in 2006. According to documents on file with the city of Minneapolis, Red Cow Owner Luke Shimp has a deal to buy the two-story, 116-year-old building at 201 Lowry Ave. NE from the current owner, Tied House Properties.
Tied House is a Minneapolis LLC controlled by Paul Dzubnar, another restaurateur and CEO of Hightop Hospitality, which includes the Green Mill and Crooked Pint Ale House brands.
Once the property is in hand, Shimp plans to raze the building and construct a new one of at least 5,000 square feet, which will be used as a restaurant, catering and events facility, according to materials submitted to the city. The new building could be anywhere from one to three stories, and will include a rooftop patio and a commissary kitchen for Shimp’s restaurants.
The proposed purchase price was not included in the documentation, though the city did note that the deal is scheduled to close in about one month’s time.
Shimp’s current holdings include the pasta and pizza restaurant Red Rabbit in Minneapolis’ North Loop and four Red Cow restaurants: including one in St. Paul, one near 50th Street and France Avenue in southwest Minneapolis, one in Minneapolis’ Uptown district, and one at Minneapolis-St. Paul International Airport.
The sale needs city council approval to go through. In 2013, the Dzubnar entity signed a redevelopment contract with the city for the site, with the hopes of turning it into a banquet hall and Town Hall Brewery (a brand then in the Dzubnar fold). The contract forbids any transfer of the site without city approval.
The matter is scheduled to go before Minneapolis’ Economic Development & Regulatory Services Committee on Tuesday. If the city greenlights the transfer, Shimp will have to begin construction by May 31, 2019 and finish by May 31, 2020.
Shimp, speaking through a spokesperson, declined to comment further. Dzubnar could not be reached for comment.
Tied House bought the property through a warranty deed in June 2015 for $275,000. The current assessed value is $247,000 for taxes payable in 2018, according to Hennepin County.
