HILCO REAL ESTATE ANNOUNCES SALE OF THIS 21,885± SF RESTAURANT ON 4.39± IN EVERGREEN, COLORADO

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Aug 05, 2022, 08:53 ET

NORTHBROOK, Ill., Aug. 5, 2022 /PRNewswire/ -- Hilco Real Estate, LLC announces the bid deadline of Tuesday, September 6, 2022 for El Rancho restaurant, an iconic, rustic pub and brewery in Evergreen, CO. Located in the heart of the Rocky Mountains, the 21,900± square foot building has plenty of space and ample parking for a variety of possible future uses, including hospitality, retail and residential redevelopments. An on-site inspection for all interested parties is scheduled for Thursday, August 25.

Originally built in 1948, El Rancho restaurant is among the largest and oldest existing restaurants in the Rocky Mountains. Fully remodeled in 2015, the building features seating for nearly 550 guests between the main dining area, private dining area, banquet rooms and patio space. The space comprises 11,000± SF on the main level, 4,300± SF on the second floor and 6,500± SF on the lower level. Set on 4.4 acres, the property sits immediately off I- 70 at the intersection of U.S. 40 and Evergreen Parkway. With a backdrop of evergreen trees, the property offers commanding views of the Continental Divide and the snow-capped peaks of the Rockies from most windows, patios and decks.

The surrounding area serves as the retail hub of the city, featuring numerous, national businesses nearby, including Walmart, The Home Depot, Starbucks, McDonald's, Comfort Suites and others. The property includes undeveloped acreage with 12 unused prepaid water taps, making it ideal for future development or outdoor event space. All furniture, fixtures and brewery equipment are also included in the sale.

A city of approximately 9,300 residents, Evergreen sits at an elevation of 7,200 feet and is located a scenic 28 miles west of downtown Denver. The small city offers an array of parks, art galleries, theaters, restaurants, entertainment and recreation options. Evergreen is also among Colorado's most affluent communities, ranking 16^th by the Denver Business Journal for the percentage of households with incomes of $150,000 or more, putting it ahead of communities like Aspen (17^th), Snowmass Village (26^th) and Vail (32^nd). The desire to live closer to outdoor amenities and the recent popularity of remote work has led to a surge in population growth over recent years. The community has a strong focus in the arts, with galleries lining the downtown streets between quaint shops and local eateries. Several craft, art and music events are also held in the area annually. Evergreen features eight open space parks comprising thousands of acres with hiking, mountain biking and equestrian trails. Fly fishing for trout can be enjoyed in Bear Creek that flows through the center of town. World class ski resorts like Winter Park, Breckenridge, Keystone, Vail, and Copper are all within one to one and a half hours away as well. The area boasts a mountain-town feel with all the amenities of Denver well within reach.

Steve Madura, senior vice president at Hilco Real Estate, stated, "This property could not be better located to take advantage of interstate access, vehicular visibility, proximity to Denver and some of the most spectacular views of the Rocky Mountains available. Whether continued use as a restaurant or event venue, or a total reimagining of this parcel, the sale represents an amazing opportunity to acquire prime land in an area that should see continued demand and desirability."

The bid deadline is scheduled for Tuesday, September 6, 2022. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (EST) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco's website. Offers may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to [email protected].

An on-site inspection will be held on Thursday, August 25. For more information regarding the sale process or to schedule an on-site appointment, please contact Jiovanny Restrepo at (847) 386-2282 or [email protected] or Steve Madura at (847) 504-2478 or [email protected].

For further information on the properties, an explanation of the sale process or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate

Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate