Property Lines - Scott Olson

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Real Estate & Retail

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

September 24, 2012

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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