Kennedy Manor Dining Room & Bar will be reopening in March with new owners, said a spokeswoman for the building the restaurant is in.
"So that's just six months away," said Kristi Solberg, property manager for the Kennedy Manor apartment building.
The new owners will handle their own publicity when the time comes, said Solberg, declining to name the new owners.
She did say the new owners will keep the same name, but was unsure if the menu will be the same. "They are just not ready to talk about it yet," she said.
Kennedy Manor has been a continuously operating restaurant for more than 80 years, likely holding a Madison record.
Mike and Dawn Theisen closed the restaurant in December after failing to find someone to take it over.
"Selling it didn't work out," Mike Theisen said. "We had it on the market for 18 months and didn't get a single bite."
What really killed the restaurant was the Edgewater project across the Langdon Street, because they lost their parking lot, Theisen said. "And then road construction and the street closed. It was just the perfect storm."
Theisen, who just turned 60, said he and Dawn had a good run. "We were at it for 15 years... It's a young man's game."
The couple appreciated all the longtime customers who supported them, but, Theisen said, "it's time to move on to bigger and better things -- like retiring."