Bidding for The Lodge in Lancaster stalls at $190,000

LANCASTER – After failing to meet the undisclosed reserve, or bottom price, at the Thursday auction of The Lodge in Lancaster on Main Street, ownership and the high bidder are negotiating a selling price, selling agent Jeff Sauer said.

He would not say who the high bidder, who offered $190,000, was. But both parties broke off negotiations for the day around 4:15 p.m.

"They'll continue until we try to come to terms," Sauer said.

He said it's hard to say whether negotiations would resume Friday.

"Well, hopefully," Sauer said. "If the parties are willing. The auction process is not that definitive."

Sauer listed the property at $550,000. About 20 people attended the 3 p.m. auction, but only two bid for the property. Auctioneer Larry Watson accepted a bid for $150,000 to start the bidding. Bidding was slow, as it took about 10 minutes to get to $190,000.

Owner John Shaffer said on Wednesday he hopes to sell the building and lease it back to continue operating the restaurant business. Destination Downtown Lancaster/Special Improvement District Executive Director David Scheffler said he hopes the property remains a restaurant.

"It's certainly a big events center," he said. "A number of the service clubs meet here. There are always association meetings, wedding receptions and lots of events that bring people downtown, and we'd like to see it continue as that."

But what happens if a new owner does not allow Shaffer to continue the restaurant in the building?

"It would be tough," Scheffler said, "because the size of this facility and the amenities that it brings are a great resource to bring meetings downtown."

Scheffler said he was surprised the bidding stalled so quickly.

"I thought the bidding would be more lively with the number of people here," he said. "I know there's some negotiation possible, so we'll see what happens."

Shaffer is a retired Columbus firefighter and said he's selling the building for health reasons.

The building is 18,088 square feet. Shaffer bought the building four years ago and performed $336,973 worth of repairs, based on information Watson provided. The work included about $114,000 for a fire alarm system and electrical upgrades, along with almost $23,000 in plumbing work.

jbarron@lancastereaglegazette.com

740-681-4340

Twitter: @JeffDBarron