The Highlandtown building that once was Haussner's restaurant is scheduled for auction next month.
"I just think it's a good time to do this," said Joseph Schultz, the owner of the roughly 28,000 square foot building, which he bought in 2011. The market is improving, he said, and interest in Highlandtown among investors is high.
He's selling the restaurant building, which he said needs to be renovated, along with three other properties at the intersection of Eastern Avenue and South Clinton Street.
Schultz, the owner of Schultz Development LLC, a Baltimore home rehab company, purchased the four properties hoping he would be able to launch a development boom in Highlandtown. He said he's still willing to partner with someone to redevelop the properties.
"That was my goal, to change the avenue with those pieces," Schultz said. In addition to the Haussner's building, he's selling two adjacent storefronts and a 13,000-square-foot commercial property on the corner opposite the former restaurant.
The sale is scheduled for noon on May 23, said Scott Frank, an agent with the Towson-based Alex Cooper auction house.
The properties will first be offered individually and then as a group, Frank said. If a bidder offers more for the four properties as a group than they bring in individually, the group offer wins the auction, he said.
Haussner's closed in 1999 after 73 years in business. It had millions of dollars of fine art on the walls and a legendary strawberry pie. The Baltimore institution was re-created for an episode of Mad Men, the AMC television show, several years ago.