Lot # : 1 - Whistle Stop Restaurant, Glendale, KY

Published Minimum Bid Auction of $375,000.00! (recently listed for $825,000, sells to the high bidder at or above $375,000 bid) Bidding will close on Wednesday March 17, 2021, 4:00pm ICONIC WORLD-RENOWNED RESTAURANT! A very successful world-renowned restaurant in a small historic town inclusive of many antique and gift shops. This restaurant is a destination restaurant with guests coming from all over the country and around the world. The restaurant seats 85 and has additional seating capacity for 85 more in the upstairs dining room used for private parties and special events. The restaurant specializes in delicious fresh Southern food made from scratch using recipes handed down from family and friends. The restaurant has a unique southern charm appearance, most of the booths and seating areas and lights were hand made. The restaurant includes a gift shop, which is a traditional log cabin, moved to the site and rebuilt to fit next to the restaurant. Since this is a destination location, the majority of customers come from out of town, out of state as well as internationally. The restaurant has been frequently written up in many local, state and national magazines such as Southern Living Magazine. It also won Best Desserts in Kentucky and been voted Best Non-Franchise Restaurant in Kentucky since 2010. Business and real estate are being sold together and will include all furniture, fixtures, food preparation equipment, historical decorations and some inventory. The owners are retiring, however, they will stay for a limited period of time to assist the new owners with the transition. An investor could buy the building and lease it back to the business which has historically generated between $1.2 and $1.5 million in annual gross sales with net operating income in the range of 10% of gross sales (with the exception of Covid-19 government mandated shutdowns and restrictions during 2020). This great business has achieved these superior results only operating 4-5 days/week over the years and without any alcohol sales. Restaurant operating financial information is available by request and the completion of a confidentially agreement. The Whistle Stop is only an hour away from Louisville, KY and considered one of the top destination restaurants on the I-65 corridor. Features: • 6485 sq.ft. Historic Building • Zoned B-2 • 2 Commercial Kitchens • 4 Restrooms • Mechanicals less than 6 years old • Grease Trap less than 1 year old • City Sewers • All equipment to remain with the real estate • Catering Option The Whistle Stop story: On April 30, 1975, Idell Sego made her dream a reality when she opened a sandwich shop seating 20 people in her husband's hardware store. With little experience, but a great love for homemade food and entertaining, the country restaurant grew. By 1979, they sold the hardware inventory to expand the restaurant which now seats 85 and 85 more in the upstairs dining room used for private parties. Over the years, Idell continued to serve Southern foods made from scratch using recipes handed down from family and friends. Many dishes served today are the original recipes she started with. The Segos also worked hard at establishing a unique atmosphere while dining. The log cabin gift shop is an original log cabin that was moved and re-built, and most of the booths and lights are hand done. Owner's Note: Over 20 years ago we fell in love with The Whistle Stop and Glendale. When we took it over in 2005, it was a dream come true working together serving foods and desserts made from family and friend’s recipes. We have had over 16 wonderful years owning and working here. It was such an honor every time we won an award or were written about in various magazines books (especially Southern Living 3 times!). Over the years we have had all our kids and some of our grandchildren work with us. We have had amazing employees; many we grew to love and became like our extended family. There are a number of customers that have been such a blessing and joy to us, some becoming valued friends. Many incredibly special and treasured memories. We have looked forward to spending a lot more time with our growing family- our 10th grandchild is on the way! We also want to do some traveling and other activities we have talked about. This has not been an easy decision for us at all, but it is now time for us to retire and pass The Whistle Stop legacy on to someone else ready and excited to take it over.