Owner of Kahn's Fine Wines puts real estate up for sale

September 24, 2012
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Kahns Fine WinesThe owner of Kahn's Fine Wines & Spirits is trying to sell two buildings where it operates, one downtown and another along 86th Street at Township Line Road. Jim Arnold is offering the 1920 building at 25 N. Pennsylvania St. for sale with an asking price of $995,000, reduced from an earlier price of $1.5 million. Kahn's occupies the lower level and first floor of the 12,000-square-foot building. A listing says the upper three floors have been gutted and ready to build out as apartments, condos or offices. A second property, a former O'Malia Food Market where Kahn's operates an 18,000-square-foot store, also is up for sale. Arnold is offering the shopping plaza on 4.3 acres with 28,000 additional rentable square feet and an out lot for an asking price of $2.75 million. The listings suggest Kahn's will remain as a tenant. Arnold, reached by phone Monday, declined to discuss his rationale for putting the buildings up for sale. Kahn's original store is at 5341 N. Keystone Ave.

  • Township
    I hope that Kahn's stays at the Township Line location. I could almost walk there...
  • Tight Lipped
    Jim Arnold was pretty talkative a few months ago with the IBJ when he was boasting about what a good businessman he was. What changed? Trying to grow too rapdily? Or maybe becoming a real estate speculator was not such a good idea. I wonder who financed those transactions?

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  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.