Sheldon Good & Company to Auction Pine Mountain Resort in Connelly Springs, North Carolina on September 8, 2005

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Auction of Pine Mountain Resort in Connelly Springs, North Carolina on September 8, 2005.

In a continuing series of resort properties being sold nationwide at auction by Sheldon Good & Company, its Hospitality Division will now sell the recently renovated Pine Mountain Resort in Connelly Springs, North Carolina.

The auction of this fine mountain resort will be held at the Renaissance Suites Hotel Charlotte, located at 2800 Coliseum Drive, Charlotte, NC at 1:00 PM, Thursday, September 8, 2005 with registration beginning at 12:00 noon. This outstanding resort is ideally located in the foothills of the Western Piedmont Mountains just sixty miles northwest of Charlotte and 20 miles south of Morganton. The property is located next to South Mountains State Park and adjacent to the Pine Mountain Golf Club. The resort features many activities for young and old alike. The tennis courts, a pool, miniature golf course, volleyball court and sauna are just some of the features included in the sale. The recently renovated, 83-room, 2-story, hotel portion of the resort is currently operating and features luxuriously appointed rooms decorated in mountain décor. Overlooking the golf course the restaurant building features a gourmet restaurant with a new fully equipped kitchen and a separate kosher kitchen. The restaurant has a beautifully restored bar and can accommodate up to 250 guests for any function. There is a second pool at the restaurant building and dual saunas in the lower level.

“The wonderful mountain location is what sets this resort apart from so many others. There are endless activities both on site and in the area with the South Mountains State Park. This auction will present the buyer with tremendous upside potential by allowing them to bring in their own management and marketing efforts to increase the current revenues, or redevelop the property into an alternative use such as a spa or camp,” said Alan R. Kravets, President of Sheldon Good & Company. “This hotel recently experienced an extensive renovation in 2003 through 2005 offering guests the finest quality fixtures and amenities. The resort offers an amazing mountain escape while at the same time being just an hour from a major metropolitan area” said Douglas P. Johnson, Senior Vice President of Sheldon Good & Company.

“The mountain views of the Pine Mountain Resort are truly breathtaking and this auction offers buyers an exciting opportunity to purchase the resort at a fraction of reproduction cost,” Johnson added.

“This is just one auction in our continuing series of hospitality auctions. We have sold more hospitality property at auction than any other company,” Kravets said.

The Pine Mountain Resort, (parcel #6480) will be sold through an open-outcry auction with an opening bid of $995,000 and a cashier's or certified check for $85,000 is required to bid.

Headquartered at 333 W. Wacker Dr., Chicago, with offices throughout the U.S. and Canada, Sheldon Good & Company is the nation's largest real estate auction firm for residential and commercial properties.

Editors: For more information or to schedule an interview, please call Alan R. Kravets, Sheldon Good & Company, 312-346-1500

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