UPDATE 8 P.M.
The Freehouse will remain closed for the rest of Saturday and reopen with normal business hours on Sunday.
Police searched the building and didn't find the threat to be credible, a source tells BMTN.
The Freehouse in the Minneapolis North Loop has been evacuated this evening after a caller informed a hostess at the restaurant that there is a bomb in the building, a source tells BMTN.
Everyone calmly exited the building, located at 701 North Washington Avenue, after the call came in just before 5:45 p.m.
They said the restaurant was about 75 percent full, with approximately 200 people inside and another 100 or so outside on the patio.
This is a developing story, and it will be updated as more comes in.