Threadgill's World Headquarters, a restaurant and live music venue at 301 W. Riverside Drive that has been an Austin staple for decades, will close its doors this fall.

"Threadgill's has taken pride in hosting musicians from around the world and feeding folks home-cooked Southern food over the years, but unfortunately it's time for us to move on. The boom-town property taxes are high as a skyscraper and we are a one story mom and pop shop," owner Eddie Wilson said in a Facebook post on Wednesday.

The last day of operation at Threadgill's will be Nov. 30.

"We hope that people will come out for a good meal, see some live music, and have Thanksgiving with us before we close," Wilson said in the Facebook post.

In October, Wilson had announced plans to likely close Threadgill's World Headquarters in the spring. At that time, a company spokesperson said via email that the spot was "desperately trying to find a way to keep from closing."

Wilson took over Threadgill's in the early 1980s and transformed it into a Southern restaurant. Threadgill's original location at 6416 N. Lamar Blvd., which opened in 1933, will remain open. Catering services for events will also continue.