Wednesday, October 3, 2007

Chunk of downtown Ketchum for sale

$13.9 million would buy property that houses Casino Club, Roosevelt

Express Staff Writer

The ?Casino Block,? a historic part of downtown Ketchum on Main Street, is for sale. The asking price is $13.9 million.

A large chunk of historic downtown Ketchum heritage is up for sale, including the bar where Ernest Hemingway used to drink and gamble.

The downtown "Casino Block" on Main Street between Sun Valley Road and Second Street, which includes the Casino Club and The Roosevelt Tavern is on the market, said listing agent Heidi Baldwin of Clear Creek Real Estate.

The "block" is actually a one-half city block offered for sale as one parcel. The property includes five buildings that house eight businesses, and the asking price is $13.9 million for the real estate and two liquor licenses.

Brother and sister Kevin and Kerry Ann Werry own the property, and it has been in their family since 1936, Baldwin wrote in an e-mail interview.

"The family decided to sell after holding several meetings over the course of a few years about their estate planning," Baldwin wrote. "It was a very difficult decision to sell the property. However, it was the best course of action for the family."

Kevin and Kerry Ann were born in the Sun Valley Lodge and raised in Ketchum. Their parents are Ted and Beverly Werry. Kevin and Kerry Ann live in other parts of Idaho but maintain part-time residences in the Wood River Valley.

The businesses established in the five buildings for sale are: the Casino Club, Rico's Pizzeria, Café, Barber Shop, Tequila Bay, Main Strip T's, Christopher & Co., and The Roosevelt. The total square footage is about 23,500 from county assessor figures but that is being verified, Baldwin said.

Each of the businesses has individual leases, the terms of which Baldwin is not able to disclose.

The "Casino Block" went on the market at the end of July. Baldwin said she is excited about the opportunity to market the property.

"Clear Creek Real Estate will use its extensive network of local resources combined with national marketing ...," to sell the block, she said.

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