City to seek offers for former lodge
By Mike Monson
Wednesday January 9, 2008
CHAMPAIGN – The city is planning to seek offers within the next two weeks from individuals or firms interested in buying the former Lone Star Lodge building at 208 N. First St.
The building has cost the city $665,000 in defaulted loans and other expenses over the past decade, after Lone Star Lodge 18 defaulted on a series of loans starting in April 2004 and closed operations in July 2005. The city gained possession of the building in June 2006 after bidding to the full foreclosure amount at a sheriff's sale.
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