Casey’s Restaurant and Banquet Facility, a longtime landmark in Springfield, has a new owner after an investor purchased the property earlier this week.
The 14,000-square-foot restaurant, which had served steak and seafood dinners to its customers for more than two decades, closed in 2012. Casey Clemons, the restaurant’s original owner and namesake, died a few years ago and the restaurant eventually closed as its weekday business and banquet schedule slumped. KT Legir LLC, an investment company, purchased the property for $150,000, said Doug Cox, a broker with Levine Realty, which marketed the site.
Local officials have struggled to keep the site free of graffiti in recent years. The facility serves as an important focal point for residents and visitors as they enter the city, said John Detrick, Clark County Commissioner.
“This is the main western approach to Springfield and this is one of the most visible buildings on Ohio 40, which has over 25,000 cars a day,” Detrick said. “It’s very important that we get this property back in a productive mode. I’m really glad to see the new owner looking at possible options, and hopefully we can move forward.”
It’s not yet clear how the facility will be used, Cox said, but the investor has pledged to upgrade the building and find a plausible use for the site. Staff from KT Legir could not be reached for comment Friday. Along with the former restaurant, the property includes about two acres of land.
“He has no specific intentions for it,” Cox said of the investor. “He’s going to go in and do some work on it and see where the chips fall at this point.”
The building, originally built by the Yanucci family, is still in good condition, although improvements are needed, Cox said. The commercial market overall has begun to pick up slightly, and Cox said he believes the investment at Casey’s is likely a good bet.
“He is making his bet, so to speak, on the fact that the location is good, traffic is good and the structural component is good, and so he’s going to put some effort and money into it and see what happens,” Cox said.
The Springfield News-Sun will continue to provide unmatched coverage of area business. For this story, the paper talked to local officials and a local real estate firm to explain why the sale of a local landmark is important to the city and county.