TOPEKA (KSNT) – What do restaurants, gas stations, land and even an old movie theater have in common? Well all have a common denominator – the owner.
21 properties all over the capital city hit the auction block, to help out a local developer who filed a chapter 11 bankruptcy.
From plots of land to old restaurants and gas stations, there was one property that stuck out over all the rest.
“Probably the FOX Theater,” said auctioneer Dan Kull “that was the one that surprised me the most. Just because of the pure damage that the building has received over the past 10, 12 years.”
But still …
I never seen a sign for sale,” said buyer Marco Maldonado “so now when I see this opportunity it was my chance.
And a chance Maldonado took for $26,000.
“I don’t expect it to be that price, to be honest,” he said.
So what big plans does the Fox Theater have in store for it now? I’ll give you a hint, it sounds like this (sound of engine revving).
That’s right, this old theater is about to become a car dealership.
“It’s what I do for the last 21 years,” says Maldonado.
For many of these purchases, it wasn’t just about the sale, it was about making the capital city a place of growth.
“We just hope to see that some of these properties we sold are remodeled,” says Kull “and just create more businesses here in Topeka.”
So no more eyesores?
:That’s right, no more eye sores, that’s what our goal was,” added Kull.
Only one of the properties of the 21 up for auction didn’t sell, and all the sales exceeded the bank’s expectations.