CEDAR RAPIDS, Iowa - After spending two years at the Clarion Hotel & Convention Center following the June 2008 flood, Penguin’s Comedy Club is moving back to downtown Cedar Rapids.

Penguin’s owner Jeff Johnson on Friday said the club will share space with the Cedar Rapids Piano Lounge at 208 Second Ave. SE after Oct. 15. By mutual agreement, Johnson said Penguin’s will end its run at the Clarion with a show on Oct. 9.

Johnson and Brett Thomas, owner of the Cedar Rapids Piano Lounge, have signed a three-year agreement. Comedy will be offered at 7 p.m. on Friday and Saturday nights and live piano entertainment will start at 9:30 p.m.

“We will use the same stage, at least at the beginning,” Johnson said. “Anyone purchasing a ticket for the comedy show will be able to stay for the piano show.”

Johnson said companies and customers who have purchased tickets for shows will still have those tickets honored unless that show is not offered. He suggested calling Penguin’s at (319) 362-8133 for confirmation.

While saying Penguin’s has enjoyed a good run at the Clarion Hotel & Convention Center on 33rd Avenue SW, Johnson said signing the agreement with the Cedar Rapids Piano Lounge made a lot of sense.

“We wanted to get back downtown to the cultural center of Cedar Rapids and the Cedar Rapids Piano Lounge already has world class piano entertainment,” he said. “We’ve always had our eye on coming back downtown because that’s where we were for about 20 years.”

Thomas said the piano lounge welcomes the opportunity to provide a venue for bringing live comedy back downtown.

“We want to stress to our clientele that has supported the piano lounge over the past five years and made us what we are today that we’re not changing our concept in the least way, but evolving to offer Cedar Rapids a more thorough rounded entertainment venue,” he said. ”We view this as a ‘win-win’ situation for both Penguin’s and the Cedar Rapids Piano Lounge.”

Johnson said Tim Cavanagh will kick off the comedy at the new location on Oct. 15. Cavanagh, a clean comedian who specializes in musical comed has appeared on the Bob and Tom radio show, WGN, Comedy Central.

Johnson, who owns the rights to the Penguin’s Comedy Club name, will franchise the business to the Cedar Rapids Piano Lounge. A sign that formerly hung above the entrance to the comedy club when it was located on First Avenue SE , will be used as a temporary sign in front of the piano lounge until a permanent replacement is installed.

Johnson said he is working on a similar franchise arrangement with the piano lounge to bring Penguin’s Comedy Club to the Quad Cities.