Old "Tiki Room" Building In the Process of Being Demolished

A reader writes:

Was out and about and noticed that the building at 61 E 24th St. (behind the old Chicago Defender newspaper building) is in the process of being demolished. 

Ever since I've been in the neighborhood that building has been very dilapidated and the Tiki Room, an abandoned bar/club that was in the place was never open. Although I did find some interesting historical info about the establishment.

http://www.tikiroom.com/tikicentral/bb/viewtopic.php?topic=23199&forum=2 

I presume this demolition is part of the redevelopment of the Defender building, but I've no idea what will be in its place. Something to complement the Defender building and Quinn Church the lot is sandwiched between would be nice.

We've always noticed the Tiki Room as well and always had similar questions.  Anyone have any additional info on the place?  Has anyone ever been to it when it was open?

Another reader writes in regard to this post:

In response to sloopin today......I have been in the area for 25 years and cannot remember the Tiki Room ever being open. The building was bought by Matt O'Malley when he bought the Defender building and then it was sold again last April when Alexander Pearsall bought the Defender property. The roof was slowly caving in for the last 10 years and finally gave way about 6 months ago. I suspect the city made them demolish it. The other building in the neighborhood with almost no roof is the Rambler building on Indiana and 23rd. It is probably next on the list. A shame that these "investors" buy buildings on speculation and then just let them rot.

(Hat tip: DN & SW!)