The Guinness Open Gate Brewery Chicago, located at 901 W Kinzie Street in Chicago's West Loop neighborhood, is on the market.
The property, that is, not the business.
“It’s time to pass the torch, or in this case, the tap, to new stewardship, as the only other two Guinness Open Gate Breweries are owned by the brand itself,” Fred Latsko, the founder and CEO of real estate development and investment company Latsko Interests, said in a statement the same day the new Guinness Open Gate Brewery opened in Chicago on September 28.
Latsko owns the property that has now been developed into the new Guinness outpost.
"While the property is being sold the business is not," a spokesperson for the Guinness Open Gate Brewery Chicago told IrishCentral on Wednesday afternoon.
“Guinness is fully committed to the space, the West Loop community, and is thrilled to have had such a strong opening two weeks.”
The spokesperson added that Diageo, parent company of Guinness, has confirmed that they have a ten-year lease and that lease will remain intact no matter who owns the property.
A spokesperson for JLL Interests, whom Latsko has tapped to broker the deal, further told IrishCentral that the property is for sale "and will remain a Guinness - they have a long-term lease."
The JLL spokesperson added: "The motivation for the sale is that the property is now 100% leased and offers a secure long-term income stream in a prime Fulton Market location."
Neither group commented on the expected price tag of the Guinness Open Gate Brewery Chicago property, but someone familiar with the deal told CoStar it would sell for more than $20 million.
Latsko and Latsko Interests are now inviting inquiries from potential buyers who "share their vision for preserving the legacy of the Fulton Market Guinness Tap House while contributing to the ongoing revitalization of this iconic Chicago neighborhood."
After plans were announced in 2021, the Guinness Open Gate Brewery Chicago opened to the public on September 28, following the success of the Guinness Open Gate Brewery in Baltimore, Maryland, which opened in 2018.
There is a third Guinness Open Gate Brewery in - where else? - Dublin.
The Guinness Open Gate Brewery Chicago features a taproom, restaurant, and the first-ever Guinness Bakery, and further features a number of beer releases, food-focused experiences, and events throughout the year.
The taps at Guinness Open Gate Brewery Chicago will feature 12-16 rotating experimental draughts brewed on-site alongside signatures like Guinness Draught Stout, straight from Dublin.
Meanwhile, the food menus draw inspiration from the brewery’s Irish roots and global footprint alongside reimagined Chicago classics.