‘Good bones’: Bend real estate agent prepares Shilo Inn for sale on market; asking price $14 million

BEND, Ore. (KTVZ) -- It's rare to find riverfront property in Central Oregon, and it's especially hard to find it up for sale, but that's exactly what's happening with Bend's Shilo Inn. The 7.5-acre riverfront property is being listed this week by Varsity Real Estate.

According to Oregon real estate broker Kristan Kellog Varsity Real Estate plans to list the Shilo Inn for $14 million.

This comes after Shilo Inn abruptly shut its doors "temporarily," according to a sign on the front door. Shortly after, KTVZ News found that it had filed for bankruptcy, along with two other Shilo Inns locations in Oregon. One in Warrenton and another Newport.

Once the property hits the market Varsity Real Estate "will show the property over the next week and a half to potential investors. And then the bankruptcy court will call for all offers, as of February 16th," Kellog said.

She continued, "At that point, they will review all of them and choose the highest and best offer, which will then be submitted to the Bankruptcy Court."

Kellog added that bankruptcy attorneys hope to fast-track the process and sell in 60 days. With an aggressive timeline, potential buyers will now only have about 30 days to assess the property and make their offer.

From addressing leaky roofs and asbestos ceilings to sewage replacement and a general facelift, Kellog adds the facilities are in need of major upgrades.

Despite this, she said the Shilo Inn "has really good bones, like really good bones.

"So to see someone come in and just bring this place back to life and make it a part of the Bend community again would be amazing," Kellog insisted.

This is a developing story, and KTVZ News will provide updates as soon as possible.