The Prospector bar and restaurant has served its prime rib and fried chicken dinners at the corner of Junipero Avenue and Seventh Street—where dive bar lovers, karaoke superstars and local musicians also showcased their work—since 1965.

But soon, the building will be split into two businesses after the sale of the property is completed.

Hilco Development Services is acquiring the building, which was listed for sale for $3 million in 2022. The Signal Hill-based firm is planning to adaptively reuse the building, but when it reopens it will be split to accommodate two new businesses, according to Cameron Hildreth, the firm’s principal and project manager.

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