PADUCUH, Ky., May 20, 2015 /PRNewswire/ -- The North Star Riverboat, formerly a casino, is being offered in an "invitation to bid" sale format, closing June 8.
The boat was offered at a live auction this past February, but due to financial complications with the previous buyer, Stuart B. Millner & Associates (SBMA)—the asset management company conducting the auction—put the boat back on the market.
The North Star Riverboat is located on the Ohio River at 133 Rose Drive, Ledbetter, KY 42058. According to SBMA officials, the current status of the river being low makes it the most logical and convenient time to purchase the boat.
About the North Star
The following includes a few key specifications on the boat:
- New in 1994
- Formerly a casino
- 260 feet long and 78 feet wide
- $24 million when it was built
- Two Caterpillar 16-cylinder diesel generators
- Two Caterpillar 12-cylinder diesel engines
- Eight Chillers that air conditioned the entire boat (capable of 690 tons of air conditioning)
- 500HP motor used for paddlewheel
- All steel construction: approximately 2,200 tons
- Over 1,500 tons of steel (est.) – All interior walls are either aluminum or stainless steel
- 24 miles of copper wire installed
- Navigation gear fully functional, including new radar system
- Ultra-modern rest room facilities (granite vanities and tile flooring)
- The only conditions that have changed since the previous auction: Most of the carpeting and ceiling tiles have been removed.
2015 reports on the boat's general condition and value (as well as a UT survey and blue prints) can be found on the event's landing page.
How to Bid
All bidders must do the following:
- Read and print the bidding contract.
- Submit a signed contract with bid by fax to 636-744-1403 or by email to firstname.lastname@example.org.
The deadline to submit bids is June 8 at 12pm CDT. For more information on the boat or to schedule an inspection, contact SBMA's office at 636-744-1400. View all other details on the riverboat event page.
SBMA specializes in appraising, marketing, liquidating and auctioneering of assets primarily from manufacturing facilities, power plants and mines for a variety of clients across North America.
SOURCE Stuart B. Millner & Associates