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Has The El Mocambo on Spadina Ave. Already Found a Buyer?

UPDATE: The realtor has since confirmed the conditional sale of El Mocambo and we'll know more details after May 1.

According to the rumour mill, there's been a conditional sale on the El Mocambo, Toronto's legendary music venue at Spadina and College. In March, the venue was listed for sale for $3.95 million; the building is 11,000 square feet space, zoned for about 450 people with a liquor licence. The listing (which now appears to be inactive) specified the building has redevelopment potential and can be turned into student housing, a fitness club or boutique hotel. In its day, the venue had many famous acts grace the stage including The Rolling Stones, U2, Elvis Costello and the Tragically Hip. According to the source, it will likely continue on as the El Mocambo which might make Torontonians or at least CBC host Jian Ghomeshi very happy.

The realtor wouldn't comment on the rumoured sale. We'll keep you posted.

· The El Mocambo is up for Sale at Almost $4 Million [blogTO]
· This Crazy Parkdale Mansion is a Gilt-y Pleasure at $2M [Curbed Toronto]
· Is There a Boutique Hotel Coming to Parkdale? [Curbed Toronto]
· How The Sam Sign Looks on Ryerson's New Student Centre [Curbed Toronto]