Second Sale Date:
Thursday, August 19th @ 12:00 PM
More Information
Bidding starts at $1,400,000. 62 unit Hotel built as a Sleep Inn in 2016. Great location off of State Route 30. Average room rate is $93 per night. Plenty of parking.
Financials: See the document section for limited financial information. We do not have access to STR reports.
Description of current and future taxes: Current taxes are $12,112 per year plus the annual commitment for the TIF covering the infrastructure is $82,404 for an annual total of $94,516 until 2027. The TIF will be paid off in 2027. Starting in 2028 the total real estate taxes are estimated to be $44,059 per year.
From the hotel website: Our Sleep Inn & Suites® hotel in Galion offers thoughtfully decorated rooms designed for a happy night’s rest. Get a great start to your day when visiting central Ohio by enjoying a complimentary weekday newspaper each morning. Your inviting guest room includes amenities like a 40-inch flat-screen TV, so you can enjoy a movie or your favorite shows. Rooms also include a refrigerator and microwave.
Amenities to enhance your stay
Keep up with your fitness regimen in the exercise room. After a day of work or play, relax with a free weekday newspaper and some afternoon tea or free coffee on the sundeck or in the picnic area. Our hotel offers a guest laundry facility, and we have a sundry shop. Guests also receive free WiFi and business travelers are welcome to use the print station and meeting space.
Our hotel offers an ideal base for exploring historic Galion and the surrounding area. Visit Brownella Cottage, an 1887 home with original furnishings, open to the public on Sundays in the summertime. Ghost enthusiasts can visit the Galion Historical Society, which offers paranormal tours. Wine lovers can sample the offerings at Fox Winery, and if beer is your drink, try Eighteen-O-Three Taproom. Enjoy an evening out at the Galion Community Theatre, which produces theatrical performances and concerts. Columbus is just an hour away and Cleveland can be reached in under 2 hours.
Get a great night’s sleep in your guest room with fresh design elements and amenities that will help you unwind. Our rooms include a 40-inch flat-screen TV, a refrigerator and a microwave. Rooms also come with an iron and ironing board.
Lot Size: 3 Acres
Annual Taxes: $12,112 plus TIF (see description above)
Plaintiff
Live Oak Banking Company
Defendant Name
Lieben Group, LP et al
Attorney
Reimer Law
Viewing Dates
The hotel is in operation. Please visit during normal hours. Staff will not be able to answer any questions regarding the foreclosure.
Documents
Property Map
Basic Terms:
*This is a Foreclosure Auction ordered by the Crawford County Common Pleas Court. The foreclosure process clears all liens and encumbrances on the subject property.
*The property sells with a minimum opening bid of $1,400,000.
*The required deposit is 10% of the winning bid.
*In the case of an online purchase, the successful bidder will be required to directly deposit the required amount into the trust account of Ohio Sheriff Sales at any Chase Bank branch OR initiate a wire transfer to said trust account by 5:00pm the day of auction. If deposit has not been made by 12:00pm the day following the auction, the credit card provided at the time of registration will automatically be charged along with the 4% processing fee.
*The real estate is sold As-Is with no contingencies. All inspections (if available) must be done prior to Auction.
*Close within 30 days of court confirmation.
*No contract is signed after the auction. A one-page buyer information form is the only document that is required by the court. See THIS LINK for the form.
*Buyer pays all closing costs.
*Private Selling Officer deed given at closing with no liens or back taxes.
*The purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover. (This would typically only be in effect for a property that sells for less than the amount of taxes that are owed.)
*Bid increment for Online Bidding is $10,000.
*When you place a bid, you can place a "Maximum Bid" and the software will bid for you in $10,000 increments. You will be notified by email and text if you are out-bid.
*Bid Extensions: If a bid is received within the last 5 minutes of the Auction end time, bidding will extend for a 5-minute period of time. Bid extensions continue until all bidding is exhausted.
*Default: Be aware, if you are unable to close within 30 days of court confirmation, your deposit is non-refundable, and you could be liable for other costs and possibly be found in contempt of court.