Peru ready to accept bid for King’s Inn demolition

An old Peru hotel that used to be nice is only $448,000 away from being an empty lot.  The old Holiday Inn, more recently known as the King’s Inn, could be demolished for $448,400.  That price also includes asbestos removal and site restoration.

The Peru City Council Monday could accept the bid from Heneghan Wrecking.  The city bought the building in late 2012 for $26,000 from a tax scavenger.

City officials hope removing the old building will make the property attractive to a new developer.