‘Bring it back to life’: real estate agent and former staff hopeful about future buyer of Shilo Inn
(Update: adding comment, video)
BEND, Ore. (KTVZ) -- Potential buyers are now touring the Shilo Inn after the over-30-year hotel hit the market for sale Friday. This all comes two weeks after the Shilo Inn abruptly shut its doors due to bankruptcy.
KTVZ News had an exclusive look inside the unique 7.5 acre property. The iconic Bend staple since 1992, is officially on the market for 14 million dollars. Before it was the Shilo Inn though, it was the “Touch of Class Motors Inn” during the 1980's.
"It was originally a residential, seven and a half acre parcel with a manufactured home on it," said Kristan Kellogg, the lead real estate agent with Varsity Real Estate that's selling the property. She continued, "a gentleman came in, purchased the land and made it the hotel that it is today"
When Kellogg first arrived on site, she expected to have to clean and strip a few rooms. But behind every closed door was a surprise.
"It definitely looked neglected," Kellogg reflected. "You could see wallpaper that's been peeling, stains on the carpets, food that had been left over for a while. Majority of the rooms were like that."
With thirteen different layouts, not every room is created equal.
"It's very evident that there's been a lot of, like, deferred maintenance over the last five years," Kellogg claimed. "I would say, that the new investor, whoever comes in is going to need to kind of revive that and hopefully they do."
There is a total of eight buildings on this property; six of which are designated for specific hotel use. The other hotel buildings include a private residence, and the Real Taste of India restaurant -- who could hav either lease terminated by a new landlord.
"It's going to be up to the owner really," added Crystal Knowles, the former assistant general manager at Shilo Inn. She added, "me and my GM didn't even know we didn't have jobs because they were still asking us to do things and we were doing things."
Knowles says despite technically being terminated, they're still working to help Kellogg make the property appealing to potential buyers and hoping, "that we get you know a buyer that sees the real potential of this place, not just somebody who wants to tear it down," so that the former staff have the opportunity to return.
In regards to the staff rapport , Knowles said, "we're like a little family. We may not go home to the same houses but we're all one group and it doesn't just end here."
Kellogg added to the sentiment saying, "there's a lot of employees that have worked here for a really long time. And so to be able to see them to come back to a place that's now alive again and what it should have been originally and, you know, carry on that legacy would be awesome."
Interest is high among local hotel owners and developers with "several investors that are already planning on making offers," Kellogg said.
However the future of the longstanding blue-roofed hotel could go any direction.
Kellogg thinks "there's one investor in particular that will probably tear it down, but then everyone else, I think will just try to bring it back to life, which is what I'm hopeful for."
Monday marks the beginning of cite tours for potential buyers of the Shilo Inn. Official offers are required to be submitted to the bankruptcy court by February 16th.
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 is listing 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 its owners had filed for bankruptcy, along with two other Shilo Inns locations in Oregon. One in Warrenton and another in Newport.
Matthew Draxton got a tour on Monday of the hotel that began as the Touch of Class Motor In in the 1980s. He'll have an exclusive look inside the now-closed hotel on KTVZ News at 6:00 p.m.
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.
"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," she said.
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.
