Archive for Tuesday, October 12, 2004

Eldridge auctioned for $2.9 million

October 12, 2004


— Former Kansas University quarterback Bobby Douglass and KU alum Mitchell Chaney had the winning bid for Lawrence's historic Eldridge Hotel, which was auctioned today before bankruptcy judge Robert Berger in Kansas City, Kan.

The pair bid $2,920,000 for the hotel, which is located in downtown Lawrence at Seventh and Massachusetts streets.

The winning bid came after a lunch break. Prior to the break the high bid had been $2,910,000 from a group that included Lawrence developers Doug Compton and Bill Newsome. The auction began at 10 a.m. with an opening bid of $1.9 million.

For more on this story, see the 6News reports at 6 p.m. and 10 p.m. on Sunflower Broadband's Channel 6 or pick up a copy of Wednesday's Journal-World.

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