GREAT NEWS FOR downtown. Maybe.
Upfront, the restaurant/bar/night club/banquet hall that’s been vacant for about four years, has been sold.
Technically, a purchase offer on the building has been accepted, with contingencies. That means the deal could still fall through if certain conditions aren’t met or problems crop up.
But. There is a deal in the works.
The listing price was $4.6 million dollars and that included not only the entertainment complex but also several offices and retail spaces. The listing price had previously been $3.9 million and then inexplicably it was raised to $4.6 million earlier this year.
We’ll let the real estate gods explain that one.
In any case, no one’s saying much about the deal, including the out-of-state owner, multi-millionaire businessman Rhys Mussman. The buyer/buyers are reportedly local or from the Midwest, depending on your source.
The actual purchase price? Don’t know.
Closing date on the transaction? Uncertain.
Opening date for business? Can’t be determined yet. Reportedly some repairs need to be made to the building.
Management of the bar and restaurant? We’re told it will be locals.
Name change? We’ll see.
Lotta questions still to be answered. A few obstacles still to be overcome.
But finally one of the prime commercial properties in town, with the very best banquet hall and a million dollar view of the Lake and the harbor, is on the verge of coming back to life.
City officials and downtown merchants couldn’t be happier.
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