Indiana Economic Digest | Indiana
Advanced Search

• Most Recent




home : most recent : most recent August 17, 2017


5/10/2017 6:13:00 PM
Notorious I-65 hotel in Tippecanoe County sold, will be hotel again

Dave Bangert, Journal and Courier Columnist

BATTLE GROUND – What was Mike Petty’s first impression when he walked into the moldy, abandoned remains of the former Days Inn, the neglected embarrassment of broken windows at the Indiana 43 exit off Interstate 65?

“I kind of wondered, what have we gotten ourselves into?” said Petty, project manager of an Illinois-based investment group called MGM Rave. “But you could tell, once you got past first impressions that there’s something there.”

This week, MGM Rave closed on a deal with REI Limited Partners, a Northbrook, Ill., firm, to buy the 6.5-acre property and four-story, 106,383-square-foot hotel that last checked in guests in 2003.

What’s the plan now? Petty said he figures he knows the community’s first reaction on that, too.

MGM Rave plans to clean up the property, strip the hotel back to its concrete structure and then market the property as a hotel.

That’s right. A hotel.

Related Links:
• Journal and Courier full text

Copyright #YYYY# www.jconline.com






Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR


Software © 1998-2017 1up! Software, All Rights Reserved