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
- 1.Your Money Matters
Sioux Falls Business Battles Bacteria
New Manager Named For South Dakota State Fair
- 3.Gas & Energy
Sioux Falls Average Gas Price Among The Lowest In U.S.
- 4.Health Care
Third Profile by Sanford Store Opens In Sioux Falls
- 5.Retail & Restaurants
December 18 Is 'Free Shipping Day'
SDN Communications To Buy Sioux Valley Wireless
- 7.Gas & Energy
NorthWestern Energy Wants To Raise Rates
- 8.Crops, General
Cargill Encouraged By Economic Progress With Cuba
Sioux Falls Constructions Near $600 Million
Sioux Falls Again Breaks Building Permit Record