The owner of South Park Tavern has purchased the building housing one of Dayton’s well-known music venues.
Canal Street Tavern owner Michael “Mick” Montgomery confirmed Wednesday that he has sold 308 East First St. and the bar’s contents to Bill Daniels, the owner of South Park Tavern as well as The Pizza Factory.
Both of Daniels’ businesses are on Wayne Avenue in the South Park neighborhood.
“I have absolutely no regrets. I’ve enjoyed my tenure at Canal Street,” Montgomery said.
The sale price to 308 East First Street LLC was $80,000, according to Montgomery County property records filed yesterday and obtained by the Dayton Daily News.
Montgomery said he believes Canal Street will be in good hands.
He said he has known Daniels for years. Daniels even sold pizzas at Canal Street for about a year in the 1980s.
“I think he (Daniels) understands the value of what Canal Street has meant to Dayton,” Montgomery said.
Daniels did not return phone calls seeking comment.
Montgomery said selling the property marks a new chapter in his life and will allow him to concentrate efforts on his true passion: booking music acts.
Montgomery will maintain the right to the Canal Street name for at least five years and be the bar’s exclusive booker during that time.
“The name ‘Canal Street’ is worth far more to me,” he said, noting that if things go as expected Daniels’ will receive ownership of the name.
“I respect him as a businessman,” Montgomery added.The bar employs about 15 part-time and full-time workers. Most have expressed a desire to work for the bar under Daniels’ leadership.
“I am glad we worked this out,” he said. “I am looking forward to working with these guys.”
Montgomery opened Canal Street more than 31 years ago.