Bank buys back Boots Motel … for now

Ron Hart of the Route 66 Chamber of Commerce emailed this report on the foreclosure auction today of the historic Boots Motel of Carthage, Mo.

The Historic Boots Motel was auctioned on the Carthage Courthouse steps at 2 pm. This afternoon, and the new owner is the lien holder, the Carthage Hometown Bank, which placed the only bid of $101,000. Members of the local media, the realtor Jim Hunter, Ron Hart of the Route 66 Chamber of Comerce and members of the Carthage Committee that pledges continued efforts to find a buyer.

It appears that the bank will keep the Boots Motel listed with the realtor in hopers of a buyer being found soon, and it also appears that the first offer of $150,000 might secure the property. The land alone is worth $100,000 at current valuation, so getting the Motel structures for an extra 50 grand is really a good deal.

The big concern now is that time is running-out. The bank is under pressure to remove this “liability” ASAP, and to the first reasonable offer, preservation-minded or not.

Hart also wrote this:

Let’s don’t let this priceless icon fall into the hands of another “flipper”. Let’s think outside the box. Any corporations that support Route 66 should be contacted. Actors, musicians, sports stars, NASCAR teams, …..the money is there, we need to communicate that around the world. Someone knows somebody that might help the cause. Reference the www.BootsMotel.com website for photos and information, and the Facebook “Save the Boots Motel” page for updates. Please post any suggestions or leads on the Guest Book or on the Facebook page.

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