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.

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  • 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. By the way, the right to work law is intended to prevent forced union membership, not as a way to keep workers in bondage as you make it sound, Italiano. If union leadership would spend all of their funding on the workers, who they are supposed to be representing, instead of trying to buy political favor and living lavish lifestyles as a result of the forced membership, this law would never had been necessary.

  2. Unions once served a noble purpose before greed and apathy took over. Now most unions are just as bad or even worse than the ills they sought to correct. I don't believe I have seen a positive comment posted by you. If you don't like the way things are done here, why do you live here? It would seem a more liberal environment like New York or California would suit you better?

  3. just to clear it up... Straight No Chaser is an a capella group that formed at IU. They've toured nationally typically doing a capella arangements of everything from Old Songbook Standards to current hits on the radio.

  4. This surprises you? Mayor Marine pulled the same crap whenhe levered the assets of the water co up by half a billion $$$ then he created his GRAFTER PROGRAM called REBUILDINDY. That program did not do anything for the Ratepayors Water Infrastructure Assets except encumber them and FORCE invitable higher water and sewer rates on Ratepayors to cover debt coverage on the dough he stole FROM THE PUBLIC TRUST. The guy is morally bankrupt to the average taxpayer and Ratepayor.

  5. There is no developer on the planet that isn't aware of what their subcontractors are doing (or not doing). They hire construction superintendents. They have architects and engineers on site to observe construction progress. If your subcontractor wasn't doing their job, you fire them and find someone who will. If people wonder why more condos aren't being built, developers like Kosene & Kosene are the reason. I am glad the residents were on the winning end after a long battle.

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