Bank buys hardware store on auction
Bank president says three potential buyers interested
Cottonwood Valley Bank was the only bidder at a sheriff’s auction Thursday for property at 1228 Commercial Drive, Marion — the former Seacat Hardware store. The bank was the mortgage holder on the property.
Clearing that hurdle moves the property closer to reopening as a hardware store. Bank president Barry Linnens said he has three potential buyers for the building.
“I have several people who are interested in buying it turnkey,” Linnens said. “Hopefully before long it will be back on the productive side.”
Luke Sinclair of Cottonwood Valley Bank said he expected the building would be sold along with its remaining inventory in a package deal.
In addition to the mortgage, $7,044.79 of back property taxes for the first half of the year were due.