MILWAUKEE — The owner of Iron Horse Hotel in Milwaukee is putting the property up for auction in hopes of resolving its Chapter 11 bankruptcy issue.
Owner Tim Dixon "is laying the groundwork" to sell the property and hotel, according to our partners at the Milwaukee Business Journal.
If they find a buyer, that would be the first change of ownership in the hotel's history. The Iron Horse is known as Milwaukee's luxury biker hotel and has ties with Harley-Davidson Motorcycles. It was appraised at $26 million, opened in 2008 and has 100 rooms. The Iron Horse has been a leader in room rates in downtown Milwaukee, the BizJournal reports.
Dixon has been trying to get an agreement with their lender. The lender filed a foreclosure lawsuit in 2021. Dixon countered with Chapter 11 bankruptcy reorganization filing in 2022.
Dixon has been managing the hotel and trying to find other investors to reach an outcome with the lender. The Iron Horse has been open and operating without interruption during this period of financial uncertainty.
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