Lucy’s Grill & Bar on Aulike Street in Kailua will close tonight, following the expiration of its lease.

The restaurant was the place to be seen after its opening in 2000 and hosted President Barack Obama and his family in early January, but now, “we’re ready to close it,” said Kaleo Schneider, sister of owner Christian Schneider.

The two are among the children of the family that owns Buzz’s in Lanikai and Pearl City.

The restaurant might have closed earlier, but it was booked for tonight’s reunion of the Kalaheo High School Class of 1981, and the decision was made to stay open and “have a little party,” she said.

A buyer, whom Schneider declined to identify, is “lined up,” though a deal has not been finalized, she said.