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Spin Nightclub, Staple of City's Gay Club Scene, for Sale for $1.5 million

By Serena Dai | February 13, 2014 11:27am
 Spin Nightclub, 800 W. Belmont Ave., is up for sale. Owner David Gassman owns several properties in the neighborhood.
Spin Nightclub, 800 W. Belmont Ave., is up for sale. Owner David Gassman owns several properties in the neighborhood.
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BOYSTOWN — Spin, a longtime staple of Chicago's gay scene, is up for sale. 

The club, at 800 W. Belmont Ave., has been owned by local businessman David Gassman for more than 15 years, according to a listing on Jameson Commercial by broker Mike Costanzo. 

The 9,000-square-foot club at the high-traffic corner of Belmont Avenue and Halsted Street has been known for its big dance floor, amateur drag shows and Friday night shower contests. 

Its listed price is $1.5 million. The leasing price is $26,000 a month.

Gassman owns several properties in the neighborhood, including buildings in the 3800 block of North Broadway that he plans to redevelop.

Costanzo said that Spin's owner did not want to run the club anymore.

"He’s been owning the business for 15 years and he wants to sell it," Costanzo said. "He knows he can get top dollar for it because that area is on fire."