An out-of-state investor has put Jacoby's German Biergarten up for sale and is asking $779,000 for the building and the pub.

The bona fide Detroit institution, located at 624 Brush St., is not expected to close.

In fact, a couple of well-established Detroiters have already submitted bids to take over the hundred-year-old tavern, according to the pub's broker.

"The intention is to keep the restaurant open," said Tjader T. S. Gerdom, real-estate broker for Novi-based Gerdom Realty & Investment. "I can't guarantee a buyer will keep it open, but I hope a buyer would want to keep it open."

The 3,900-square-foot, two-story tavern has been in the same building since it opened in 1904, after Albert Jacoby and his soon-to-be wife, Mina, took over a place called Jake's Tavern. It is now owned by an investor group led by Wally Wolff of Chicago.

Gerdom said sales at Jacoby's have increased over the last three years, which is a good sign for the bar.

"We have a couple of offers that we are negotiating," Gerdom said. "The new owner would be someone who has a vested interest in the comeback of Detroit."