Although the dragon is one of the strongest and most powerful signs in the Chinese zodiac, The Dragon Lounge, 1932 E. Kenilworth Place, will close on Friday, July 30.

Owner Adam Miklas was not available for comment, but bar manager Dawn Sherman says the popular Asian-themed lounge is closing because the lease is up and the rent would increase drastically if they stayed.

"It's just time to move on," says Sherman. "It all came very, very quickly."

Sherman, who has been the bar manager for nine months, said she just found out about Miklas' decision to close the bar two weeks ago.

To celebrate the last night in business, local DJs will spin records at a farewell party on Friday night.

According to Sherman, Miklas does not plan to open another bar and has moved on to a new business venture.

The Dragon Lounge opened in early November 2001. The spot, formerly occupied by Kazooz and the Warehouse, brought a refreshing taste of the Far East to the North Avenue and East Side college bar and entertainment scenes.

"We're just going to throw a big party and enjoy the last night," says Sherman.