Pieces of New London's historic Lighthouse Inn went up for auction Friday and the city had the winning bid for the property and building.
One certified bidder, along with the city's tax collector, were on hand to looking into buying up the interior furnishings and equipment that were once a very big part of the vacant Lighthouse Inn.
Eyewitness News went inside the 52-room inn along with New London residents.
"Frankly he just felt that the cost of renovating, particularly the asbestos and mold, was far more than what he wanted to take on," said John Troland, of New London.
The whole building began as a private residence back in 1902. However, now, mold is all that lives in the building, which has been in that condition for a few years.
The heyday for Lighthouse Inn in Southeast Connecticut was the 1950s.
The inn was popular until a major fire in 1979, which was then followed by tax troubles for several sets of owners. The last owners are now serving jail time.
The city was owed $125,388.51 in back taxes for the inn. The city bid that same amount at Friday's auction and won.
It is unclear what the city will do with all the items inside the inn. Eyewitness News does know the city will spend the next couple of months figuring out how they'll market the building and water view land.
Then the inn and the land will go up for auction early next year.
"Beautiful old place and it deserves someone to put a lot into it," said Jim Noonan, who was a potential bidder.
City leaders said whoever does buy the grand old mansion would probably need to invest a couple million to renovate.
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