According to the Double Olive's Facebook page, the bar will be sold to a friend of the owner and the space will be remodeled and turned into a new bar.
Many residents are sad to see the Double Olive go.
"What a cool place it was," local band Me + Joe Smith posted on its Facebook page Tuesday afternoon. "It's where we became a band. Thank you, Joe Agius, and everyone we rocked with on Dearborn's westside!"
The band even wrote a song in tribute of the bar where their band was born. (See video of live performance above.)
For others the change is bittersweet.
"Sad to see it go but excited to see the new spot!" Facebook user Erica Lustick commented.