QUINCY (WGEM) -- A historic building in downtown Quincy that's sat empty for decades could soon have a new owner:the city itself.
The city filed for foreclosure against the current owner of the Newcomb Hotel, who owes the city more than half a million dollars, and $50,000 to the county.
The loans were granted nearly ten years ago so Victor Horowitz of Skokie, Illinois could purchase and renovate the property.
Those renovations were never completed, and now that payments have stopped, the city is looking to recoup its losses--even going so far as to plan the next step, should the foreclosure be granted.
"They're actually in the process of seeking someone who has an interest in making a proposal on the property," said Attorney Terry Anastas. "So that there won't be a lag between the conclusion of the foreclosure case, and then deciding what happens next with the building."
Anastas says if everything goes smoothly, the foreclosure process should take as little as three to six months.
A potential roadblock is a lien that's been filed by a construction company who says they weren't paid by the owner, but the city believes its claims take precedence.