Minimum bid for the 10,000-sf club, located in a South Loop area that has seen rapid redevelopment with multiple condominium and town house projects, is $550,000. Although the new owner may have redevelopment ideas of their own, the three-story building is being offered as a turn-key operation in its present form.

"The entire building and all of its contents, including the liquor license, will be auctioned as a single package," Good says. "Everything is in place for a new owner to continue operating a music venue on the property."

The sale of the two-year-old business is a result of Taylor's daughter's severe asthma condition. Joyce Threatt also is the club's manager, and a smoky nightclub is not conducive to her health, according to Good.