The block of Chatham Street directly west of Ouellette Avenue has fallen on hard times in recent years.

But sources tell CTV News an investor from Toronto sees an opportunity and has big things in mind.

"I said probably a year ago when everyone was getting down on Chatham Street and saying how disgusting it is and how landlords aren't doing their job. They were waiting for the right opportunities," says Downtown BIA Chair Larry Horwitz.

Those "right opportunities" are evidently moving forward.

The Loop complex, which is home to the Loop, the Coach and Horses, Pawnshop Ballroom and Beercade Windsor has been sold by Katzman Enterprises to a Toronto investor for millions.

"The deal moved quickly, there wasn't a lot of warning. It was a quick moving deal," says spokesperson Sam Katzman.

Information about the buyer is being tightly guarded.

Sources say it's because he's looking at making a number of other deals in the near future.

Katzman says the buyer sees potential in Windsor -- especially with the low dollar.

"He's very high on Windsor and downtown Windsor, specifically. He came to Windsor in his leisure time and fell in love with the city," adds Katzman.

The deal for the Loop closed yesterday at 4:30 pm.

Sources confirm "the buyer" also purchased the Pour House Pub and office space in the old legal offices next door.

The buyer's plans for the Loop facility are unknown.

But sources say it's a revitalization effort to complement the college and university district nearby.

Katzman says two builders and an architect were on site before closing yesterday.

He doesn't believe it will continue to be a bar.

"The way he's talking he wants to really fix up the facade and really make it a nice landmark in Windsor," says Katzman.

The city block has a storied past.

"Back in the day, you'd be here on the Friday for cocktail hour and that's where you could rub shoulders with the hoity-toighty of Windsor," says Chris Edwards of Walkerville Publishing Inc.

Edwards says with the right mix of money and vision, history could be the future for Chatham Street.

"Any time somebody who opens their eyes and sees these great buildings that we have here, historical, well built, solid as all can be, cheap by any standard. You need one person to come in and make the change," says Edwards.

Sources say two other properties in play on the street.. are the former Chatham Street Grill and the City Beer Market.

That facility is in receivership and is owned by the Windsor Family Credit Union.