THE HISTORIC CALVERT  HOTEL REAL ESTATE & HOTEL BUSINESS AUCTION

TUESDAY, AUGUST 14^TH, 7 P. M., MDT

LOCATION:  216 7^TH AVENUE SOUTH, LEWISTOWN, MT

HISTORY:   Formerly the Fergus High School Dormitory, the Calvert was built in 1916 and opened on February 1, 1917. It was a fine structure, made of native brick rising two and one half stories above ground level, with 27 rooms adequate for about 50 students. It contained a full kitchen, dining room and laundry on the lower floor, with rooms for young gentlemen on the main floor, and a parlor and rooms for young ladies on the top floor. This is presently the South side of the Calvert. Because of the Dormitory's great success, an addition was made on the North side around 1919. This is the main structure you see today.                                                                                                  

In 1925, because of drought and the exodus of people after World War I, the Lewistown economy drastically declined, banks failed, the school district and county lost their funds, and the dormitory was forced to close. The building set idle until 1928, when it was purchased by Mrs. Emma Marsh. She and her husband George began the conversion to a hotel, adding many private bathrooms and a considerable amount of quality furniture. Mr. Marsh had previously owned Lewistown Furniture. The safe and cash register from that establishment are on display in the hotel.

Fortunately the dormitory has not been greatly altered and it stands today much like it was constructed. The building was purchased by the present owners, John and Eleanor Humphrey in 1978, and placed on the National Register of Historic Places in 1980. An extensive renovation program was undertaken, and still continues today. Rooms, hallways, and lobbies have been re-decorated, some furniture has been re-finished.

GENERAL DESCRIPTION: The Calvert Hotel has been operating as a hotel since 1928.The structure is a 3 level brick building with the Hotel operating on upper 2 stories. Private living quarters, hotel laundry, heat system, office and storage rooms are on lower level.

ADDRESS: 216 7^th Avenue South, Lewistown, MT

LEGAL DESCRIPTION:  Fractional Block 7 of Morase Addition to the town of Lewistown, and Lots 11 & 12 in Block 1 of Stafford Addition #3, to the town of Lewistown, Fergus County, Montana

BUILDING SIZE: 90’ X 90’, less 20’ x 30’ court yard in center of building. 22,500 +/-  total square feet                                                    

LOT SIZE: 100’ X 100’

ROOMS: 45 rooms currently in operation. 10 others used as storage units. 9 light house keeping units; rent for $225 to $300 per month.

RENT PRORATIONS: If necessary, any rents paid by the month will be prorated to the date of closing.

REAL ESTATE TAXES:  $2,487 per year, prorated to the date of closing.

UTILITIES:  Gas & electricity: Approximately $1,700 per month; Water/sewer: $200-$300 per month;                   TV: $137 per month

PARKING: Street parking only.

EQUIPMENT /FIXTURES/SUPPLIES INCLUDED: All beds, dressers, chairs, all appliances,                                            business equipment &desks.  All bedding, bath & laundry supplies.

BUSINESS / FINANCIAL RECORDS PROVIDED UPON REQUEST.
TERMS: Cash to Sellers at closing.

EARNEST MONEY: Successful bidder will pay, on auction day, an initial earnest money deposit equal to ten percent (10%)    of the final purchase price. The balance will be due in cash or certified funds at closing.

CLOSING DATE: 30 days or sooner, after the auction.

METHOD OF CONVEYANCE: Warranty Deed

CLOSING COSTS: Seller and Buyer to share equally in the closing agent closing fees, not to exceed $100 per party.

TITLE INSURANCE: Sellers, at Seller’s expense, will provide the Purchaser with title insurance.

CONTINGENCIES: This property sells without contingencies. Purchasers are encouraged to have financing in order prior to bidding.

METHOD OF AUCTION:  The Calvert Hotel will sell as a business; all real estate and business equipment included.

SELLER’S CONFIRMATION: Sellers reserve the right to approve of the final bid.

BUYERS PREMIUM: Real estate sold at this auction will be sold with a 2 % buyer’s premium fee. The high bid amount, plus the buyer’s premium, equals the final purchase price. For example: a $100,000.00 bid plus the $2,000.00 buyer’s premium fee equals the final purchase price of $102,000.

BUYER’S NOTE: Information contained herein was taken from sources deemed reliable and is believed to be correct. Although every precaution has been taken to insure the accuracy of the information herein, Shobe Auction & Realty, Seller, Sale Managers and all of their agents will not be responsible for any errors or omissions. It is the Purchaser’s responsibility to conduct their own due diligence and make their own decisions as to the accuracy of all information. All property sells in it’s “As-Is/Where-Is” condition with no warranties expressed or implied other than marketable title free and clear of all liens and encumbrances. Auctioneers are acting as agents for the Seller not the Buyer. Announcements made at the auction take precedence over all written matter. Buyers should carefully verify all information and bid accordingly.

VIEWING: By appointment with the auctioneer 406-538-5125 or toll free 866-885-4792.