Western Lodge under contract as downtown property heads toward April closing
John F. Russell/Steamboat Pilot & Today
The sale of Western Lodge in downtown Steamboat Springs is pending and expected to close in early April, Robert Yazbeck with Coldwell Banker Distinctive Properties confirmed Thursday.
“The earnest money went hard Friday, so it is past all contingencies,” Yazbeck said of the property located at 1122 Lincoln Ave. “So it looks like it’s actually going close this time, but it doesn’t officially close until (early April).”
According to the Routt County assessor website, the longstanding lodging property was built in 1951 and saw substantial improvement in 1970. It was purchased by Peter and Kathleen Ann Guler in 1990.
The property spans 1.09 acres with Lincoln Avenue and Soda Creek frontage, and Western Lodge includes single- and two-story sections with 33 rooms, according to the Routt County site. The waters of Soda Creek flow behind and around the building before the water passes through a culvert under Lincoln Avenue on its way to the Yampa River.
Yazbeck, who leads Team Yazbeck at Coldwell Banker, said the owners originally wanted to sell the property with two other parcels to a single buyer. However, Yazbeck said the property was separated into three parcels at the start of the year, with one parcel including the Western Lodge, a second parcel off 12th Street that includes the historic Marshall house, and another parcel off Oak Street.
“It’s the biggest remaining lot downtown,” Yazbeck said of the Western Lodge property.
He estimates the property has been on the market for nearly 15 years, and listed with more than 10 real estate agents. Yazbeck said the price tag for the property was a big reason it was on the market for so long, but he added that the market has caught up to the price in recent years. The property is listed on the Coldwell Banker website for $5.9 million.
Yazbeck said the buyers of the Western parcel are out of New York and are committed to the purchase. The two other parcels are under contract with a local developer, but the two sides are working through contingencies before signing a contract.
John F. Russell is the business reporter at the Steamboat Pilot & Today. To reach him, call 970-871-4209, email jrussell@SteamboatPilot.com or follow him on Twitter @Framp1966.
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