As we reported earlier this year, the beloved Streamline Tavern will be torn down in 2015 and replaced with a new building to house the Korean Consulate. But no need to cry in your beer, for we just got word that the Lower Queen Anne dive bar will move into the current Jabu’s Pub space at 174 Roy Street.

The historic Streamline has been around since the mid-1950s, a dark, boozy watering hole on West Mercer. The place is an institution, a mecca for serious drinkers, complete with pool table, dart board and a cozy wraparound bar. It is the kind of place that has become increasingly endangered in Seattle, as we continue to witness the long, slow decline of old-style, frill-free neighborhood gathering spots for patrons seeking a good company over a shot-and-a-beer.

Owner Mike Lewis, a former staff writer at the Seattle P-I, who bought the Tavern along with some partners a few months after the paper ceased publication in March 2009, tells Seattle Weekly that he plans to operate both pubs for the next three months or so. “And then we will close down the Streamline and move everything over to Jabu.” Adds Lewis, who closed to deal on Monday, “The two bars have long shared a lot of regulars.”