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INDIANAPOLIS, Ind. – The Elbow Room has been a downtown staple for generations, but now it’s set to close for good.

The bar, located at 605 North Pennsylvania Street, opened in 1933 shortly after the repeal of prohibition.

Elbow Room employees say the staff had a meeting yesterday to announce the closure.

We are told the last day they will remain open is May 27, the day of the IPL 500 Festival Parade.

Rick Lux, owner of Lux Restaurants, says the property will be will be available for lease or sale after the closing. Lux has owned the restaurant since 2002.

“It has been a great location for Lux Restaurants, but it was time to upgrade the restaurant or sell and we have ultimately decided it was time to re-imagine the future of this location as the cultural landscape of downtown Indianapolis continues to evolve,” said Lux.

The company plans to place all employees at Lux’s other five other restaurants including Indianapolis’ Broad Ripple Tavern, Meridian, Blind Owl, Binkley’s and Nickel Plate located in Fishers.