He is working with a friend in the construction industry on the scheme at Anniesland Cross.
The loos, which are C-listed and stand on a traffic island at the busy intersection, have been unused for 15 years.
Now they are to become a tapas bar, due to open in the autumn with the bill for the refurbishment expected to be about £300,000.
German-born Albertz is working with local construction firm, Craigieburn, whose owner Dougie McKirkle is a friend.
The venture will be named Pasionaria, after the nickname of Spanish Republican leader Isidora Ibárruri, who rallied the troops of the International Brigades during the Spanish Civil War, during which 65 Glasgow volunteers died.
Mr McKirkle has known Albertz, or The Hammer to Rangers fans, since 1996, said: "I looked after him when he first came to Glasgow and didn't speak much English. He believes in me and has invested in the restaurant."
The duo were involved in a property venture which failed to take off in Cardross, Argyll and Bute. But Mr McKirkle said this plan would work "100%".