Politics & Government
Mill Race Inn Sale Price Dropped by More Than $1.3 Million
The property was going for $2.2 million in March 2012.
The going price of the former Mill Race Inn has been dropped more than $1.3 million since last year, according to various real estate sites.
The iconic Geneva restaurant has been closed now for more than two years, and the property still sits vacant, awaiting an owner.
The property at 4 E. State, which includes the 1.33-acre site, one story commercial building with about 14,000 square feet of restaurant space plus storage in the basement, has a sales price of $899,000, according to LoopNet.com.
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A year ago, real estate agents were asking $2.2 million for the restaurant, which included the Gazebo outdoor-dining/nightclub, parking lot and one-acre of prime riverfront property.
The real estate reports are unclear as to whether the property has been subdivided for sales purposes.
Find out what's happening in Genevawith free, real-time updates from Patch.
Responding to a Geneva Patch "Visions for Vacancies" article in March 2012, residents and interested readers suggested everything from an alternative site for the Geneva library to an outdoor-activities center to a hotel/resort.
Geneva's Downtown Master Plan, approved last year, calls for a redeveloped Mill Race Inn and new retail development on the corner of State and Bennett streets. This concept keeps the banquet and restaurant use and provides a layout that makes better use of the river frontage with parking that could support the addition of a lodge or boutique hotel with outdoor dining along the river.
Geneva police reports collected this week show the former restaurant was vandalized on March 29. Back in 2011, someone broke into the building and took five large food coolers.
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