Town of Story Up for Sale for $3.8 Million
The town of Story, Indiana is up for sale for $3.8 million. Our partners at WTHR report local businesses, such as The Story Inn and its affiliates, will remain open under current ownership and seek to lease the buildings from the town’s future owner.
"The business will have the same relationship with the town as Macy's does with the mall. It will be a tenant and we offer lease payments, so whoever buys this will take it with restrictions but there will be cash flow," Rick Hofstetter told WTHR.
Nearly 20 years ago, Hofstetter bought the town and opened the inn, which is a popular tourist destination for its restaurant and rumored-to-be-haunted Blue Lady room.
Hofstetter aims to tap a new owner of Story that is invested in its preservation. He says he hopes to find ownership for Story that strategically frames a secured future for the town and that the right buyer "won't want to change its essence."
According to Indiana Public Radio, Story recently made the National Register of Historic Places, which also provides some extra protections for the community.
Hofstetter says the Inn has received several inquiries about buying the town, but has not yet found the right buyer to pass the torch to.
For the full story from WTHR, click here.