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October 20, 2010

Gin Mill fetches $600K at auction; Reeders don't sell

Canton's Gin Mill was auctioned off today at noon and received a high bid of $600,000. But the Reeders, the family that has owned the bar for a decade, decided not to sell.

Auctioneer Jonathan Melnick said the high bid came from a well-known family that owns a chain of local restaurants, but he declined to name them. 

Owner Lester Reeder could not be reached for comment. 

As Midnight Sun reported, the Reeders put the Gin Mill up for auction in September. Lester said business was solid, but the family wanted to step away from the nightlife business. 

Lester said the bar has been for sale since they bought it back two and a half years ago, and the auction was a way to fast-track the search for a new owner. The family first bought the bar in 1996, according to property records.

The two-story establishment, housed in a building from 1850, has two bars, two dining rooms and a lounge area in the rear. Property records peg its base value at a little over $600,000.

Today's auction lasted a half hour, and was attended by 12 to 15 people, Melnick said. The high bid was $600,000 even, though the new owners would have paid $80,000 more for the business, real estate, and the liquor licenses. 

Melnick said the Reeders wanted a higher offer, though, "not a tremendous amount more."

He added the high bidder might decide to increase the bid later, but that negotiation would happen privately with the family.


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Posted by Erik Maza at 3:48 PM | | Comments (21)
Categories: News
        

Comments

"But the Reeders, the family that's owned the bar for a decade, decided not to sell."

"that's" refers to an object, not a person.

"Lester said business was solid, the family wanted to step away from the nightlife business. "

Where did you learn to write?

No doubt both those are on purpose. No one who gets paid to write can be this bad and not being doing it on purpose.

If you lay down a beat and rap his words they soundz betta.

Anon,

"That's" can also be a contraction for "that has."

$600k +$80k is a great price.

$680 Gin Mill
$472 Taps
$112k more, I am surprised they didn't take that. They must not need the money.

btw who all placed bids during the auction? Any Canton or Baltimore bar owners looking to open another place?

@balrog

the issue isn't the contraction, it's the usage

They want 125k @ least for the biz. They should have taken the bid. Now that everyone who is interested knows the going price, they re not going to get much more then the bid. How shady is it to be a realtor and try and sell your property? I'm asking...

Everything about this just seems shady.

Family is typically a collective noun (a noun that describes a group), meaning that Erik is grammatically correct (at least in American English/common usage).

Sorry to be a bother, but I think the grammar nazis on this blog are total d*** who are adding nothing to the conversation, so they better at least be correct.

amen, balrog. if you're gonna be a grammar d*** ( or is it grammar douche?) at least post a handle. very bold to be anonymous

disclamer; their is uncorrect grammer and speling in this post

If you are going to complain then at least put your name to the complaints. And I agree, of all the varieties of "Maza Sucks!", the grammar/usage one is the dullest.

Reading the comments on this blog is like watching the new guy on the bus get spitballs shot at him every day. This guy's giving out nightlife news (for free!). Or: Erik Maza: why don't you not post some of these comments? Here's one reader who's tired of seeing them. Either way, I'm going to stop scrolling down. It's like seeing the new kid get picked on and it's tiring almost from the beginning.

The new guy at D@L doesn't get picked on. He re-reads before he hits submit apparently.

We read it for free, he gets PAID to write it. I expect more from a "pro".

baltrog is right on both accounts. (1) People can be d***, especailly when they are proofing written word. (2) Group is a collective pronoun. The individuals would warrant the use of "who". The group is not animate. It is a collection; therefore, it does not get warrant "who". It warrants "that".

Man I miss the Gin Mill...

Man I miss the Gin Mill...

@Stoop - 100% agree. I wish the comments were edited for relevancy.

Also, the blog has a front page where you can scroll through the posts and pick the ones you want to read. If you don't want to read one, move on to the next one. Jeez, it's not like someone is holding you hostage unless you read every damn post.

The only thing that's happened to this blog is a bunch of whiny brats have taken it upon themselves to harass the writer and litter the comments section with completely unproductive babble. People used to make informative comments, now you're just wasting my time.

Don't let laptop split ya where the good lord split ya on the way out! F*cking adults.

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About Erik Maza
Erik Maza is a features reporter at the Baltimore Sun. He writes for several sections of the Sun paper and contributes weekly columns on music and nightlife. He also writes and edits the Midnight Sun blog. He often covers entertainment, business, and the business of entertainment. Occasionally, he writes about Four Loko, The Block, the liquor board, and those who practice "simulated sex with a potted palm tree." Before The Sun, he was a reporter at the Miami New Times. He's also written for Miami magazine, the Orlando Sentinel, the Sarasota Herald Tribune and the Gainesville Sun. Got tips? Gripes? Pitches? He's reachable at erik.maza@baltsun.com. Click here to keep up with the dumb music he's listening to.

Midnight Sun covers Baltimore music, live entertainment, and nightlife news. On the blog, you'll find, among other things, concert announcements, breaking news, bars closings and openings, up-to-date coverage of crime in nightlife, new music, round-the-clock coverage of Virgin Mobile FreeFest, handy guides on bars staying open past 2 a.m. on New Year's Eve and those that carry Natty Boh on draft. Recurring features include seven-day nightlife guides, Concert News, guest reviews of bars and concerts, Wednesday Corkboard, and photo galleries, as well as reader-submitted photos. Thanks for reading.
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