Many hundreds of thousands of dollars had been invested in the property since the 1960's to maintain the structure's architectural integrity and to enhance and improve original artifacts.
Middletown, VA (PRWEB) March 17, 2009
Middletown, Virginia -- Very few structures in the U.S. trace their origins to before the occupancy of the White House in 1800 by John Adams, our second President. The Wayside Inn, Middletown, Virginia, however, marks a continuous history of operation back to 1797 when it first provided food and accommodations to guests travelling by horseback and coach in the Shenandoah Valley. During the Civil War, soldiers from both the North and South took refuge in the Inn depending on which side had control of this strategic mountain area 70 miles west of Washington, D.C. Now, the 22-Room Inn, Conference Center, and Restaurant has been directed to be sold at an Estate Auction by the Bernstein Family Foundation. With the recent death of Leo Bernstein, the Inn's owner since the 1960's, the Bernstein Family Foundation has elected to sell the Inn to further fund its philanthropic efforts in the Washington D.C. area. The Estate Auction Sale will be on-site at the Wayside Inn at 1:00 P.M., Thursday, April 30.
Gordon Greene, the Virginia Auctioneer who is handling the sale with Chartwell Group, stated, "Many hundreds of thousands of dollars had been invested in the property since the 1960's to maintain the structure's architectural integrity and to enhance and improve original artifacts." The Inn's twenty-two suites and rooms are each decorated in period themes featuring canopied beds, English, French, and Oriental antiques, paintings, and other historical items. The Inn features a conference facility and gardens that can entertain up 350 guests for private parties, meetings, and wedding receptions. A modern banquet kitchen was added to the property in recent years to meet the growing needs of the meeting facility and the restaurant where guests dine in seven unique dining rooms served by staff members in Colonial costumes.
Gordon Greene said, "Purchasing the Wayside Inn is an outstanding opportunity for a buyer to acquire one of the country's longest operating inns." Certain of the Inn's unique antiques, furnishings, and paintings are to be included in the sale. The new owner will have the privilege of carrying on the long tradition of the Inn's hospitality or converting the property to a private residence or other use. The Foundation and Estate wanted to be sure that all parties had an equal opportunity to bid on the property which will be offered with a Published Reserve Price of $995,000 at which price level the Foundation is obligated to sell the asset. Bidding at the Estate Sale will commence at $535,000. The signatory for the Foundation will be at the auction with authority to execute a sale agreement with the new purchaser, with a closing scheduled for May 12, 2009. There is also built-in seller financing with as low as 25% cash down and an interest rate as low as 6.5%, depending on the purchaser's total down payment.
The Wayside Inn is situated in Frederick County, near the junction of I-66 & 1-81 between Exits 298 & 302 off I-81 to 7783 Main Street (US 11 / Old Valley Pike), Middletown, Virginia 22645 . The facility contains:
# 22 private suites or rooms with full baths. Each room is decorated in a period theme
# Seven dining rooms
# A full service lounge with liquor license
# Large rooms for conferences and events
# Landscaped garden and terrace for outdoor events and receptions
# A modern state-of-the-art kitchen
# Many furnishings, antiques, paintings, and periods pieces are included in the sale
Parties interested in acquiring the Wayside Inn will want to make the following preparations to bid at auction:
1. Acquire a complete Property Information Packet (PIP) at a cost of $20 at the time of the open houses or by mail for an additional $10.00 Priority Mail delivery. All groups seeking to inspect the Wayside Inn must first acquire a Property Information packet (PIP) at the time of registration on-site or by mail.
2. Inspect the property during a scheduled open house on:
Thursday, April 16, from 12:30 P.M. to 3:00 P.M.
Sunday, April 19, from 12:30 P.M. to 3:00 P.M.
Saturday, April 25 from 12:30 to 3:00 P.M.
Wednesday, April 29 from 12:30 P.M. to 3:00 P.M. and
Thursday, April 30 from 11:00 A.M. to 1:00 P.M. (Auction Day)
3. Review the Purchase & Sale Agreement with a closing date of May 12, 2009.
4. Obtain a cashier's check for $55,000 to register to bid on the property.
For a free color brochure, terms of sale, and more information on the April 30, 2009 Estate Auction, call Gordon Greene / CCIM at Chartwell Group at 216-839-2005. Historical information on the property is available at the Web-Site of http://www.alongthewayside.com . This is a true opportunity to be part of American History for a facility to be sold at an auction price.