Owners have unpaid balance of $36 million

ASPEN — An unpaid loan balance of $36.3 million has put the historic Hotel Jerome on the auction block.The 92-bedroom Main Street hotel, built in 1889, is scheduled go to a foreclosure auction sale on Jan. 27, Deputy Treasurer Desiree Wagner said Monday.The Pitkin County Treasurer’s Office opened up foreclosure proceedings for the 92-bedroom Main Street property Thursday, when it filed a “notice of election and demand for sale.” The notice says that LCP-Elysian Aspen Owner LLC has an unpaid balance of $36,292,781 to Jerome Property LLC, which holds the deed of trust on the property. Jerome Property LLC was formed Aug. 25 in Delaware, according to public records.
By Rick Carroll, Sept. 29, 2009, Aspen Times

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