FORT SMITH (KFSM)—A historic landmark to the area was auctioned off Wednesday (May 11).
The Lighthouse Inn was a popular restaurant for more than three decades. Leslie and Penny Smith, of Fort Smith, had the winning bid of $340,000 on the vacant building. They’ll pay what they bid, plus 10 percent, for a total of $374,000.
Shawn Looper, with Looper Auction and Realty, said the property had between 75 to 100 prospective buyers. There was no set minimum bid, but the first bidder made a $100,000 offer before it finally sold to the Smiths.
“I think it`s great,” he said. “We get a new buyer who can do something with it and restore it to the great icon that it`s been in Fort Smith.”
The nearly 10,000 sq. ft. building sits along eight acres of the Arkansas River overlooking Van Buren; but when the river runs high, the property is often threatened by flood waters.
“Water has never been in the building,” Looper said. “It does get around it. It does go above the road.”
The Smiths declined to comment on camera, but they said they aren’t sure what their plans are yet.
“I hope it becomes some sort of restaurant, something everybody can enjoy in the area of Fort Smith and Van Buren,” Looper said.
He said the closing on the building will happen within the next 30 days.