Business & Tech
Inver Grove Heights Hotel on the Auction Block
The AmericInn Hotel on Blaine is one of few Twin Cities hotels on the market.
Twin Cities Business Magazine is reporting that an Inver Grove Heights hotel under a franchine owned by a man who recently ran for United States Congress is now on the auction block.
The AmericInn Hotel, part of the chain franchised by St. Cloud entrepreneur and Sixth District challenger Jim Graves, is on the block.
Graves fell about 1,500 votes shy of knocking off Rep. Michelle Bachmann in the Sixth District in 2012, and was considered a strong contender in 2014, until both Bachmann and Graves backed out of a rematch.
The hotel, which is located at Upper 55th and Blaine, shares a pad with Applebee's restaurant and bar. It is owned by an investment firm out of Texas, according to Dakota County property records.
According to TC Business, the hotel was put on the auction block through the Auction.com website last week. The starting bid for the property is $700,000; midway through the auction, the “current bid” was listed as $1.45 million, although the reserve price had not yet been met.
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