Sioux City officials are hoping a foreclosure sale this summer of the Sioux City Hotel and Convention Center will net a buyer willing to make major renovations to the troubled downtown property.
The 10-story hotel is set to be auctioned at a Woodbury County Sheriff's sale on July 15.
Proceeds from the sale will help satisfy a more than $5.2 million judgment a court awarded May 2 to the Illinois bank that foreclosed on the property.
The judgment for First Bank and Trust Company of Illinois is against two of the hotel's former owners, Choa Hope LLC and Tower Sioux City LLC.
Most Popular Today
Lloyd Scraps Plans For Former School For The Deaf
- 2.Your Money Matters
Big Plans For Main Avenue
- 3.Crops, Agriculture, General
Wheat Growers/North Central Leaders Explain Merger
- 4.Retail & Restaurants
Co-Op Starts $350,000 Member-Loan Drive
2 Great Life Fitness Centers Planned For NW Sioux Falls
AG Issues Warning About Federal Poster Scam
- 7.Your Money Matters
Next Step For Downtown Development Project
Thursday Morning Business Brief
Thursday Evening Business Brief
Friday Afternoon Business Brief