Hotel Cathlamet up for auction
Published 5:00 pm Saturday, April 30, 2011
Realty Marketing Northwest of Portland will offer the historic property at noon May 21 at the Portland Airport Sheraton.
The downtown hotel, built in 1929, features a classic façade outside and relatively new furnishings, carpets and floors inside. It was remodeled in 2010.
| Hotel Calthlamet is scheduled to be auctioned May 21. CRBJ file photo |
The Wirkkalas, who have owned the building for about 13 years, previously had operated it as an assisted-living facility.
According to the hotel’s auction catalog, the Wirkkalas “have decided to concentrate on other business interests and are offering the hotel at auction, at a significant discount, as well as with seller financing, so that a sale may be accelerated…with closing by end of June.”
Last year, the Wirkkalas told the Coast River Business Journal that their inspiration to restore the hotel to its original use came as the couple struggled in a difficult economy to maintain the assisted-living facility.
The Wirkkalas said they had invested more than $1,150,000 in the building since 1996. Work included restoration of the original lobby, electrical and plumbing upgrades and installation of an elevator.
The public will be permitted to inspect the property from 10 a.m.-1 p.m. on May 1 and 14.
Although the Wirkkalas have asked for as much as $800,000 for the building, the auction flyer lists the published reserve as $465,000.
It adds that the sellers will offer financing subject to approval of the purchaser’s credit.
For more information, call Realty Marketing Northwest at 1-800-845-3524 or go to www.rmnwauctions.com.
