Matt McGauley said he can envision the comeback of the original Krystal outlet at the inaugural site at Seventh and Cherry streets.
He and his father, Mike McGauley, of Fidelity Trust bought the three-story former Krystal headquarters recently from 701 Cherry Street LLC for $775,000.
Matt McGauley said, "We would like to keep a restaurant at the corner, and we will have 3,500 square feet of space available. I would love to see a Krystal there."
That is the location where the successful hamburger chain got its start in 1932. Krystal was long based in Chattanooga, but now operates from an Atlanta site.
Mr. McGauley said it could include a Krystal museum and gift shop.
He said the final plans for the building will be drawn up after interior demolition is complete. That is already underway.
Attorney Hank Hill and his partners had to exit their longtime home for the nearby Flatiron Building.