CLEVELAND, Ohio — Sokolowski’s University Inn has apparently closed for good, and the building, located at 1201 University Road in Cleveland’s Tremont neighborhood, is up for sale on Howard Hanna’s website for $2.7 million.
The building was listed on Howard Hanna’s website on Monday, Oct. 12, and has generated interest but no official offers, said Hanna Commercial Real Estate managing director Tony Visconsi.
The price tag of $2.7 million is based both on the building’s extensive history and also its location.
“It’s probably got the best views in the city. It looks out over downtown Cleveland and the Cuyahoga River,” Visconsi said. “We looked at the value of the actual land, which is four tenths of an acre, and then we looked at the value of the brand — the Sokolowski brand, that’s been there as a successful restaurant since 1923. It’s got value in both respects. It’s not only valuable piece of property, but also if someone wanted to buy it and keep it as a restaurant, it was a very profitable operation.”
According to Visconsi, the Sokolowski family has expressed that if they don’t find the right buyer or the right deal, they may opt to reopen Sokolowski’s down the line.
“Potentially, they would reopen,” he said. “COVID obviously didn’t, and doesn’t help, looking into the future. It’s so unpredictable, but yes, that is an option.”