The proposed sale of Luther Manor properties has taken another step forward.
The Telegraph Herald reports yesterday District Court Judge Thomas Bitter issued his ruling yesterday at the Dubuque County Courthouse which gives the green light for the sale of Luther Manor Properties, located at 3131 Hillcrest Road in Dubuque and 5300 Grand Meadow Drive in Asbury.
The facilities were placed into receivership in August 2023 after failing to pay back more than $15-million dollars in loans and have since been managed by an outside agency while the properties were marketed for sale.
There are two good prospects for buying — one for the Hillcrest property and another for the Grand Meadows location. The proposed purchase price for the two properties equals a combined 29-point-8-million dollars, although both offers were contingent upon court approval.
