LC Real Estate Group is happy to announce the successful transition of the Loveland Elks Lodge, from a historic downtown Landmark, the Lovelander Hotel, to its new home, the former Landmark Engineering building on west Eisenhower. The 100 year old location at 103 E. 4th street, was too large, inefficient, and too costly to make the needed upgrades for the longstanding membership group. After 10 months of escrow and several attempts to restructure financing and closing contingencies, the first contract to sell was terminated and immediately a new buyer stepped in to close on the property for $1,850,000. During this time several attempts were made at purchasing replacement properties, until a suitable building was found with a Seller that was willing to grant extensions and work with the Elks as they shifted gears with a new Buyer, finally closing on replacement at $1,250,000. The majority of proceeds from the sale will go toward a full renovation of the outdated office building which boasts ample parking, mountain views, and outdoor patio area for events and gatherings. The simultaneous transactions were challenged with complicated timing of contract deadlines, unique purchase requirements, and lack of inventory, but the deals were held together and in the end the outcome was a huge success. “The Elks came to us with a need to find a new home, and we were honored to serve this organization who has served our community for a century. It was not simple, and it took a couple tries to get the right buyer, but in the end the Elks are thrilled to be in their new home.” Rico Devlin – Senior Partner /Broker LC Real Estate Group.
