After 27 years, Elbo Room's days at 647 Valencia St. (at Sycamore) are officially coming to an end.

"With a heavy heart, we need to announce that the last day of SF will be January 1st, 2019," co-owner Matt Shapiro told Hoodline via email, adding that the bar and music venue's lease has not been renewed.

As we previously reported, Shapiro and business partner Erik Cantu were able to extend their lease one last time in July 2017, after plans to build condos on the property were announced.

But the property on which Elbo Room stands is now listed for sale with a price tag of $4.2 million. (The listing notes that it "comes with a transferable approved site building permit.")

Photo: Matthew K./Yelp

Should the new owners stick with the plans for the site that have already been approved, Elbo Room will become a five-story, seven-unit mixed-use building with parking commercial space on the ground floor, according to public records.

There's been speculation about Elbo Room's future since 2014, when founders Susan and Dennis Ring, who still own the property on which the bar stands, first announced their plans to transform it into condos. At the time, the couple said the condo building was their retirement plan, and that they planned to live on-site; now, it appears they've chosen to sell and move on.

Cantu and Shapiro, who had worked at the bar as managers and bookers since the early 2000s, officially bought it from the Rings in 2010. Earlier this year, they opened a second location in Oakland, Elbo Room Jack London, which will remain open after the Mission bar closes its doors.