MADISON, Wis. -- Nitty Gritty owner Marsh Shapiro has sold 400,000 hamburgers and has been in business in downtown Madison for 40 years.

So, he said he thinks it's time to move on, a decision that has prompted him to list his popular restaurant near the University of Wisconsin-Madison campus for sale.

Shapiro said that for a couple of years now, he's been casually trying to work out a deal to sell it to his son-in-law and assistant general manager, but they haven't been able to secure financing yet.

So, Shapiro said he thought he would see what the marketplace has to offer and give the two other men more time to seek financing, too.

Shapiro, who is 70, said he has been talking about getting out of the burger business for five years. He said the sale posting has nothing at all to do with the bad economy. In fact, he said that sales at the downtown restaurant and one in Middleton are growing.

Stay tuned to WISC-TV and Channel 3000 for continuing coverage.