Business & Tech
I-T: After Loan Dispute, Jack London Village is On the Market
Jack London Village, a historic commercial unit located at the edge of Glen Ellen at 14301 Arnold Drive, has been put up for sale, reports the Sonoma Index-Tribune.
Jack London Village, a historic commercial unit located at the edge of Glen Ellen at 14301 Arnold Drive, has been put up for sale, reports the Sonoma Index-Tribune.
Owner Bernard MacElhenny, who also owns Morton's Warm Springs Resort, decided to sell after Westamerica bank jacked up interest on his loan to 16 percent, pending renewal.
MacElhenny is asking $2.95 million for the property.
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The over 23,000-square-foot complex houses 17-tenets, including Olive & Vine and Yeti Restaurant.
The property has a long history in the community, writes the Index-Tribune:
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"[It was] developed starting in 1969, when Charles Beardsley and David Fritscthi purchased the site from the Pagani family. The original structures, built before 1860, are among the oldest in Sonoma County. A working waterwheel once powered the old mill. It was later turned into a distillery by Frenchman Joshua Chauvet, who added the winery in 1881. The Pagani family acquired it in 1913 and ran it as a winery until the 1960s."
Read more about the possible sale here.
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