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LAWRENCEVILLE (KDKA) – The sign outside of the Neid’s Hotel says closed for repairs, but it could soon be closed for good. It’s news that fans of the Pittsburgh music scene don’t want to hear.

“I don’t know if its, unfortunately, but it is, as time progresses life moves on,” said Jim Nied, owner of the establishment.

The bar and music venue has donned his family’s name for nearly 80 years, but the building itself has stood on the corner of 55th and Butler Street since 1898 and that means costly repairs are needed to keep it up to code.

“What it’s gonna take me to get up to code? I don’t feel like spending. I think it’s time to make a change in my life,” he said.

In 80 years, you can make a lot of memories and also launch a lot of careers. About 20 years ago, a friend told Nied about a big band searching for a new home.

They found their success at the bar; in fact, the band changed its name to the “Nied’s Hotel Band.”

And traditional country music hall-of-famer Slim Forsythe not only frequents the hotel, but he also lived on the third floor.

As Lawrenceville continues to grow, there’s no doubt investors will come calling.

“I’d like to see someone take it over, call it the Neid’s Hotel and go for another 78 years,” Nied said.

As for what’s next for Nied.

“A good night’s sleep,” he says.

After that, he plans on giving back to the community by donating his time to the Boys and Girls Club and the Catholic Youth Association.