11/12/2013 03:31 pm ET Updated Nov 25, 2013

Legendary Billy Goat Tavern To Be 'Temporarily' Displaced, Owner Says 'I Want To Stay Here'

Thanks to a recently approved renovation plan from the National Association of Realtors, Chicago's beloved Billy Goat Tavern could be in search of a new home.

The legendary tavern beneath Michigan Avenue -- a world-renowned (thanks to Saturday Night Live's "Olympia Restaurant" sketch) staple of downtown Chicago's ever-dwindling dive bar scene has been the subterranean tenant of the Realtor building at 430 N. Michigan Ave. since 1964.

According to WGN, the NAR's board unanimously voted Monday to redevelop the entirety of the property into a high-end hotel, condos, offices and stores.

Though an NAR board member insisted "accommodations" will be made for The Billy Goat, a redevelopment would mean the tavern's displacement -- if only for a while. Meanwhile, owner Sam Sianis told the Tribune he knew nothing of the NAR's decision, only saying "I want to stay here."

Officials involved with the plan say the project will be the "next destination building in the iconic Chicago skyline,” NBC Chicago reports.

Sianis, however, told the Tribune that while he wants to stay in the spot the tavern has held for a half century, he's not interested in fancy digs.

“No fancy,” Sianis said. “I want it to be the same.”

There is no immediate timetable for the renovation and no word as to what will happen to The Billy's Goat's original location. The franchise now has six outposts around the city, including Navy Pier and O'Hare airport, as well as a suburban location and a spot in D.C.



Chicago's Billy Goat Tavern