ANDERSON, Ind. —
The former Garden Hotel building, 5920 S. Scatterfield Road, is being auctioned off on the order of a U.S. bankruptcy court.
Sealed bids will be accepted through 4 p.m. Eastern Standard Time on March 14 on the 157-room hotel, which has been vacant for the past few months. It operated as a Holiday Inn until a few years ago.
According to a listing with auction manager CBRE Auction services, the hotel sits on 5.1 acres and is “perfect for redevelopment or an alternative use,” with features such as a kitchen, indoor and outdoor pool areas, a conference room and bar.
The property sits just off Interstate 69 exit 226, 20 miles from Muncie and 23 from Indianapolis.
The initial deposit required to bid is listed at $50,000. Bids can be submitted to the CBRE office in Chicago, 311 S. Wacker Drive, Suite 400, Chicago, IL 60606.
According to the last evaluation record from the Madison County assessor’s office, the property’s total value in 2012 was $2,099,900, with about $766,000 of that being from the land.
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