Cheap bars in Toronto are like unicorns: you want to believe they exist, but you're not sure they actually do.

For one night and one night only, Wide Open on Spadina is proving you wrong by offering everything (and I mean everything) for just $5.

Celebrating their 21st year in business with a bang, the hole-in-the-wall bar has announced that, to get yet another year of good times off on the right foot, they'll be rolling back the prices of their entire menu to a comfortable five bucks.

The dive bar offers a selection of beer on draught, a few bottled options and bar rail options, so don't expect anything fancy, but you can certainly get a good bang for your buck.

The bar doesn't offer food options, but you are welcome to bring in outside food. With a ton of quick service food options nearby, you'll be able to have your pick of nibbles while you rack up a tab that won't break the bank.

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If you miss the deals this time around, don't worry, Wide Open prides themselves on their cheap drinks and specials year round -- you just might have to shell out a little bit more than $5.

Wide Open's birthday celebration event runs from 4 p.m. to 2 a.m. on Monday, Jan. 15.