UPDATE (3:30 p.m.):
In a brief interview with Boise Weekly, Mitch Thompson, owner of The Red Room, declined to comment on how much Twin Peaks paid Thompson & Ross LLC—Ross' holding company that operates The Red Room—for the outgoing music venue and bar's liquor license.
"They're incredibly rare and expensive," he said.
Thompson said that he has enjoyed his time with the venue, but is "a little tired of the late hours."
He hopes a future owner will take advantage of the venue's "legendary status"—it was once home to Crazy Horse—and, at $25,000, it has a price tag ripe for music promoters.
"I priced it so somebody in the music community could get a hold of it."
UPDATE (3 p.m.):
The Red Room has closed its door, at least for now. The lease on its 1519 W. Main St. location expires Sunday, Dec. 1, and its liquor license—a notoriously rare and expensive component of running a bar in the Treasure Valley—has been transferred to Twin Peaks, a chain restaurant and bar located at 7751 W. Spectrum Street near the Edwards Cinema complex.
According to Lt. Russell Wheatley, chief of the Idaho State Police Alcohol Beverage Control Bureau, these transfers, effectively sublets of liquor licenses, are possible after a two-year "seasoning" process. Wheatley said the license transfer had nothing to do with any prior history of abuse or misuse of the license.
"It was impeccable," he said of The Red Room's compliance with state alcohol laws.
Ken Jenkins, owner of the building where The Red Room is located, said that he has fielded five or six inquiries about the space, which includes a second story currently housing Ikon Tattoo and Body Piercing. Most of the interested parties, he says, have designs on the space similar to The Red Room.
"Everyone's wanting to do what The Red Room's doing," he said.
The floor space for both stories is 4,000 square feet. The current rate for a lease on the space is $11 per square foot per year.
Should an interested party accept The Red Room's $25,000 asking price and take up its lease, the total cost would be $69,000 in the first year. According to Jenkins, the bulk of Red Room owner Mitch Thompson's asking price is in furniture and sound equipment.
"The majority of [Thompson]'s asking price is the turkey and ready to go," he said.
Thompson could not be reached for comment.
The lights are off at The Red Room, and—at least according to a Craigslist ad—it seems as though big changes may be in store for the longtime punk and alternative rock venue.
The Craigslist ad, posted Sept. 8 and titled "Downtown Boise Bar for Sale - $25000," describes the bar as a "turn-key, positive cash-flowing business with a loyal staff and clientele." According to the ad, the sale includes the lease for the space, all fixtures and equipment like refrigeration and a sound system. Not included in the sale is the liquor license.
The ad says that the $25,000 sale is to be paid in cash.
Though a call to the bar Tuesday, Sept. 17, requesting comment on the ad was not immediately returned, a post on the venue's Facebook page dated Sept. 13 indicated that "a series of unfortunate events" compelled it to remain closed through the weekend. As of Sept. 17, a sign taped to The Red Room's door stated the venue is closed for a remodel.
According to Justin Cantrell, owner of The Shredder, a handful of recent shows scheduled for The Red Room were to have been pushed to his venue, but he declined all but one—Sun Blood Stories' Sept. 13 CD release party.
Check Cobweb for updates as they become available.