monday, august 25, 1975
daily nebraskan
paga 3
tudent
seeking furniture buys 95-year-old hdte
By Mark Willy
Many college students go to auctions to
pick up low-cost furniture. UNL senior
Rick Alexander was one of these, but he
wound up with something else a 24-room
hotel for $3,000.
Alexander went to an auction this
summer in his hometown, Superior, to buy
an old velvet couch. Hie seller wanted five
dollars which Alexander said he didn't
think it w& worth. He stayed anyway and
left the new owner of Superior's Union
Hotel.
Bids for the hotel started at $2,500, and
Alexander said he became interested. He
made the top bid, took out a loan and paid
owner Maurice Kilgore $3,000 for the
hotel and all of its antique furnishings, he
said.
Since then word of Alexander's deal has
spread and he has received numerous offers
to sell the hotel for a substantial profit, he
said. He even received an offer from
Kilgore, who seemed to regret his decision,
to sell it at that price, he said.
Hold onto it
"I'm going to hold onto it at least for
awhile," Alexander said. "I feel it's a good
experience to run your own business. It
will help me establish credit, which is hard
for a student to do. As far as keeping it
after this year, 111 wait and see if I get into
law school. If I do then 111 probably sell
it." '
The hotel was built 95 Years aso with
bricks from a Superior factory. Railroaders
were steady customers during its peak
years. Alexander has four tenants now who
are renting from him monthly. He said he
plans to rent rooms at $4 a night.
Most of the rooms contain a bed,
dresser and table, although some include a
refrigerator and stove. Alexander said he
plans to clean the hotel, paint and repair
the roof.
Business space
Businesses also lease space in the hotel.
A room on the first floor is rented to
Ihger's Recreation Room. Alexander has
been contacted by owners of a gun shop
and an antique shop who may want to rent
V space, he said, :.
He plans to have two employes: a
woman who cleaned the hotel for Kilgore
will remain as maid and a retired friend of
the Alexander family will run the desk.
They will operate the hotel while he is at
school, he said.
Alexander said he, has been surprised at
the commotion caused by his buying, the
hotel.
"It's been kind of a headache," he said.
"I didn't realize it would cause all this
publicity." '
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