AVAILABLE FOR IMMEDIATE SALE

41-ROOM OPERATING HOTEL IN DECATUR, INDIANA

FOR SALE BY RECEIVER

1033 N. 13^TH ST.

DECATUR, IN 46733

LISTING PRICE:  $499,000

DOWNLOAD A COMPLETE PROPERTY INFORMATION PACKAGE FROM THE "DOCUMENTS" BOX ABOVE!

PROPERTY ADDRESS:  1033 North 13th Street, Decatur, Indiana 46733

BUILDING SIZE:  Original Building Built in 1974:  +10,847 square feet; Addition Built in 2000:  +5,885 square feet; Total +16,732 square feet.

NUMBER OF HOTEL ROOMS:  41

PHYSICAL CONDITION:  Good

LOT SIZE:  The total size area is +109,336 square feet or 2.51 acres.

ZONING:  B-3, Commercial District. (legal conforming).

LOCATION:  10 miles Southeast of Fort Wayne.

FOUNDATION:  Reinforced concrete with spread footings.

FLOORS:  Concrete slab.

WINDOWS:  Commercial pane with larger pane panel type windows in the newer building.

ROOF:  Gable with asphalt tiles. I saw no evidence of leaking.

LOBBY/RECEPTION:  The older section has a lobby-reception area with carpeted, terra cotta tile floors, gypsum board paper covered walls and painted gypsum board ceilings.

ROOMS

INTERIOR WALLS:  Painted and papered gypsum board.

CEILINGS:  Painted gypsum board.

FLOOR COVERINGS:  Mostly carpet in the sleeping areas and terra cotta in the bathrooms.

LIGHTING:  Sodium vapor and florescent.

SPRINKLER:  The buildings are not sprinklered.

RESTROOM:  All of the rooms have toilets, sinks and tubs with showers. For the most part they are in average to good physical condition for a limited service facility.

POOL AREA:  There is an outdoor swimming pool just north of the newer building. At the time of inspection it was early spring and the amenity was covered. The owner reports it is in good condition and working fine.

MECHANICAL AND EQUIPMENT

HEATING AND COOLING:  Each room has its own heating plant which is generally sleeve in nature. The lobby and owners apartment are reportedly on the same forced air gas-fired systems.

ELECTRICAL:  Most boxes are reduced to 100 amp, 600 volt, 3 phase 3 wire systems and substation.

HOT WATER:  The buildings have several larger capacity systems. The owner reports they are sufficient for current use.

COMMERCIAL WASHER & DRYER:  The subject has one large gas-fired commercial dryer and a large commercial washing machine.

PERSONAL PROPERTY

There are 41 bedroom suites and furniture (including all linen and towels); 41 televisions, 38 micro wave ovens and hotel room refrigerators and all ground and pool equipment. In addition the facility has the above named washer and dryer equipment.

ANNUAL PROPERTY TAXES

The total annual property tax amount is $20,269.42 (total for both parcels which make up the property).