Two businessmen from neighboring Jones County won the bid atauction for much of the town property. Bill Lucado and his partner,construction contractor Alan Schomber, paid $265,000. Such a deal.They now own the locally well-known Swampland Opera building, arestored 1880s hotel, an old cotton warehouse, a restaurant, store,and several houses and vacant lots. Sellers Edwin and MargaretLavender put their holdings up for sale to the highest bidder.

Lucado and Schomber said in an Associated Press report that theydid not expect to win the bid and had no specific plans for theproperty. They did say they would probably complete the restorationof some of the buildings.

The prize in the package is the Swampland Opera, which for 25years has offered free Saturday night bluegrass and gospel shows.Toomsboro also holds an annual Syrup Festival--for those unfamiliarwith southern traditions, the foodstuff celebrated at this event isthick, dark sorghum syrup, best served on hot biscuits.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.