SIOUX CITY HOTEL TO BE SOLD BY SHERIFF

SIOUX CITY HOTEL TO BE SOLD BY SHERIFF

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THE SIOUX CITY HOTEL AT 4TH AND JACKSON STREET WILL BE SOLD AT A SHERIFF’S SALE.

THE HOTEL HAS BEEN IN RECEIVERSHIP AND IS OWNED BY CHOA HOPE LLC OPERATING AS TOWER SIOUX CITY LLC.

A JUDGMENT OF OVER THREE-POINT TWO MILLION DOLLARS HAS BEEN LEVIED AGAINST THE COMPANY FOR MONEY OWED TO AN ILLINOIS BANK.

CITY MANAGER BOB PADMORE SAYS HE’S HOPING A NEW DEVELOPER WILL COME FORWARD FOR THE HOTEL:


OC…SOONER THAN LATER. :20

A FLORIDA BASED GROUP ANNOUNCED IT WAS PURCHASING THE HOTEL LAST NOVEMBER FOR FOUR MILLION DOLLARS, BUT THE DEAL FELL THROUGH.

PADMORE SAYS A COUPLE OF OTHER DEVELOPERS HAVE LOOKED AT THE HOTEL SINCE THEN, BUT NO OFFER IS PENDING.

ANOTHER ISSUE FOR THE CITY IS THE HOTEL IS ATTACHED BY SKYWALK TO THE SIOUX CITY CONVENTION CENTER.

CITY EVENTS DIRECTOR ERIKA NEWTON SAYS THE DISREPAIR OF THE HOTEL IS HURTING CONVENTION BUSINESS:


OC…..HOTEL’S CONDITION. :21

THE PROPERTY IS SCHEDULED TO BE SOLD AT A CASH AUCTION ON JULY 15TH AT 10AM IN THE LOBBY OF THE WOODBURY COUNTY COURTHOUSE.