When it looked like the Urban Lounge would fold recently, Salt Lake City music lovers feared the worst. After all, The Paladium and the Broken Record had recently closed for financial reasons.

But Chris Wright and Will Sartain, who both worked at the downtown music venue, decided to act.

"I couldn't imagine Salt Lake City without the Urban Lounge," said Wright, who had worked at the club for more than seven years. "With other venues closing, it takes the character out of a city."

"A lot of people would be bummed if this place closed," said Sartain, the co-owner of Kilby Court, the local indie club.

Wright and Sartain bought the private club, and their ownership became official on Oct. 1. Urban Lounge has a new liquor license, and, most importantly, energy to provide the venue with the life-sustaining new blood it needs.

The owners describe it as, above all, a neighborhood bar with music at cheap prices, much needed in difficult economic times.

The owners have been working feverishly to reassure bands already booked that the club survives, while booking new bands. With the exception of just two dates in November (Nov. 3 and 11), there will be music playing every night through the end of the month.

On the bill are acts such as rapper Cappadonna of Wu-Tang Clan, French anti-folk musicians Herman Dune, local alt-country favorites Band of Annuals, hard-rocking Eagles of Death Metal, and the much-anticipated show of Stephen Malkmus, former frontman of Pavement.

Whereas the E Center and EnergySolutions Arena book high-profile acts, and places like The Depot and In the Venue book established mainstream acts, local music venues such as the Urban Lounge and State Street's Bar Deluxe and Burt's Tiki Lounge draw niche audiences because of the diversity of the acts who play there.

Hip hop, indie rock, singer-songwriter, rhythm and blues and alt-country nights cater to different clienteles. Local bands are especially welcome.

"We don't want to exclude anyone," Sartain said, who extends the fun spirit that he has established at the all-ages Kilby Court across downtown.

That inclusive quality endears itself to local bands, who claim they are treated the same way as national touring acts. "We're most comfortable there," said Shane Asbridge of local rock band Vile Blue Shades, who are hosting their CD release party at the Urban Lounge Oct. 11. Asbridge also performs at the club with his bands the Wolfs and Laser Fang.) "My bands have all sounded best there."

"There was a big rumor mill going around" about the Urban Lounge closing, Asbridge said. "We were really worried, especially since the Broken Record had closed down."

Now that the rumors about the club's demise have passed, Sartain said he and co-owner Wright hope to spruce up their new place.

The Lounge is a windowless, unassuming joint in a small strip mall, where the music can't start until 10 p.m. because of an agreement with the Italian restaurant next door. The club accommodates about 250 people, and ticket prices are kept low, generally around the $5 to $15 range.

Booths, tables and pool tables, as well as two bars on popular nights, surround the stage at the center of the room.

Liquid refreshments - the most popular drafts are Coors and Wasatch Beers' Evolution Amber Ale - are available at the bar at the rear, where you can buy Amy's organic burritos for $6.

A wooden dance floor is at the lip of the stage, and is the most popular spot at the dimly lit club. Sartain doesn't know the square footage, describing it as "larger than Monk's, smaller than The Depot."

In an uncertain economic climate that has claimed the lives of other music venues, Sartain echoed a statement made by Wright about the Urban Lounge, rescued from its deathbed.

"I couldn't imagine the city without it," Sartain said.