Fire struck the defunct rock club shortly after 11:15 p.m. Friday.
No one was hurt in the blaze, but it took firefighters about two hours to bring under control.
Crews would not enter the building as a safety precaution because it has been abandoned for about 20 years, said Fire Chief Charles “Buddy” Wilkins.
The fire is believed to have sparked in the interior and spread to the roof.
The cause of the blaze was under investigation Saturday and officials have said it is suspicious, Wilkins said.
Officials would not release any other details citing the ongoing investigation.
The lounge was once a major venue for both regional and national rock bands from the 1960s through the 1990s.
Acts such as Bruce Springsteen, Kiss, Sly & The Family Stone and Steppenwolf would include the venue in their tour itineraries.
In the 80s, it became a magnet for heavy metal bands like Anthrax, Helloween and Twisted Sister.
The club, which could fit about 2,000 people, was known for featuring live music well into the early morning hours.
After it was closed in the early 1990s, the building fell into disrepair and has been the subject of several redevelopment proposals."
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