By Colin McEwen
Record-Courier staff writer
The building and land that once housed Havre Chevrolet and most recently Roger Chevrolet in Ravenna will be auctioned off Nov. 3 at a sheriff sale.
A large, red sign advertising the auction is planted in the overgrown tree lawn just a few feet away from where shiny, new Chevrolets once rolled off the lot.
Details of the sale of five parcels and the building at 1340 E. Main St., list the defendant as LKD Land Co. and the plaintiff as Fifth Third Bank. The building and property were appraised at more than $1.6 million, with the opening bid at $1.1 million.
The money gained from the auction will be used to pay back lenders, as well as Portage County, said Portage County Treasurer Stephen Shanafelt.
He said the county is owed $20,472 in back taxes.
According to the Portage County Auditor's Office, the business was located on five adjacent parcels that together total more than six acres. The property and building were purchased in Sept. 2006 for $1.65 million, although this figure did not include the value or the price of the Chevrolet dealership.
Roger Chevrolet closed in April after slumping sales amid a sluggish economy, turning off the lights on approximately 50 jobs.
At the time, no other dealerships were expected to move into the space, something referred to as "closing the point" in the auto industry.
Shanafelt said he is unsure if the building and property will sell at the auction, and was surprised they were going to auction so soon after closing.
"It was set up as an auto dealership and that industry is hurting right now like everyone else," he said. "We'll have to see if there are any bidders " it's a wait-and-see kind of thing. Hopefully, they'll be able to get it sold and get a profitable business in that location. That would be good for Ravenna."
The business brought in about $20,000 to the city of Ravenna in employee tax withholdings in 2007.
The property has been held in a limited liability company called LKD Land Co. LLC, according to records from the Ohio Secretary of State's Office.
Roger Cohen took over the dealership in September 2006 from Trey Havre, whose family operated the business for three generations " starting in 1927.
There has been a dealership at that location on East Main Street since 1967. But now, tall weeds growing in the cracks of the abandoned parking lot stand in place of new cars.
Other area businesses also have struggled with a slumping economy in recent years.
Polichena Motors, open for 36 years, closed in June 2007 because of the slow economy, only to re-open a week later as Haasz Auto Mall dealership.
After 25 years as a Ford Dealership, Charlie Cusack gave up his franchise rights at Cusack Ford in October, opting to convert his dealership, at 1350 E. Main St., into a used car lot.
The automotive national industry has taken giant hits recently, including General Motors Corp. reporting record losses this year. In February, the Detroit-based automaker reported a $38.7 billion loss for 2007 "a record for the auto industry."