Helena's Capitol Hill Mall Sold - KFBB.com News, Sports and Weather

Helena's Capitol Hill Mall Sold

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The fourth and last Trustee's Sale of the Capitol Hill Mall in Helena took place today and was announced on the side steps of the County Courthouse.

As a group of people gathered in front of the steps they found out the mall has been sold to the beneficiary. Since there was no bidders interested in the starting bid price of nearly $7.5 Million, the beneficiary, Imperial Thrift and Loan Association out of California bought the property.

Lisa Jackson, the attorney announcing the purchase stated "the beneficiary elected to sell the property today and there were no bidders, so the property then actually reverted back to the beneficiary for $2.5 Million."

The mall has been behind on property tax payments and also for sale since 2010. Now the mall is headed in some direction, but what exactly that direction is going to be is still uncertain.

As one walks through the Capitol Hill Mall in Helena it virtually seems like a ghost town as a majority of the stores here have left because they were afraid the mall was going into foreclosure. Now the remainder of the stores still in operation here are one step closer to finding out what exactly is going to happen to this mall.

Having finally been purchased, store owners are hoping the only indoor mall in Helena will stay.

The owner of Leslie's Hallmark in the Mall, Dave Simkins said "I am hoping it remains an enclosed mall, which Helena really deserves an enclosed mall. It would be sad for it to be the only large shopping area without a closed mall."

As it is unsure what the Imperial Thrift and Loan Association will do with Capitol Hill, many are happy that some action has been done with the nearly vacant mall.

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