Southern Alberta business owners offer chance to own bed and breakfast, restaurant for $100

The owners of an historic southern Alberta bed and breakfast are putting their businesses on the market, but not in the traditional sense. Kyle Benning has more.

It’s the small details that make Cobblestone Manor in Cardston special.

“There are 61 pieces of wood in each one of the ceiling tiles,” said owner Ivan Negrych.

However, he and his wife are ready to pass on their businesses to one lucky contestant.

“To own a two-business establishment and living quarters for $100 is a rare opportunity. There has to be somebody out there that is interested enough to give us a story,” Negrych said.

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They have been running the restaurant and bed and breakfast for nearly two decades, but they’re ready to retire and sell the historic Alberta building lock, stock and barrel.

READ MORE: A look at the Lethbridge real estate market

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The couple put it on the market two years ago with an asking price of $1.7 million, but didn’t receive any acceptable offers — something that doesn’t surprise a local realtor.

“The market is stable, but it is a buyers’ market in Cardston. There’s nothing that drives Cardston’s economy,” Sutton Group Realty’s Brad Beazer said. “There’s nothing really running to drive people to move here.”

WATCH: Millarville woman charges $25 for a chance to win her $1.7M home

Millarville woman charges $25 for a chance to win her $1.7M home
Millarville woman charges $25 for a chance to win her $1.7M home

Now the couple is taking a different approach by starting a letterwriting contest for their slice of history.

Applicants will need to send in $100 with their 500-word essay about why they want to win the property.

The owners are basing this off of a similar contest for a Millarville home also valued at $1.7 million.

READ MORE: Millarville woman charges $25 for a chance to win her $1.7M home

Ultimately, the couple is hoping the end of their working days can be a leg up for a budding entrepreneur.

“It would just give somebody an opportunity to get a start in life. We want to retire. We’re getting tired,” Negrych joked.

He would like to receive 17,000 applications to meet the original $1.7-million asking price.

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The contest starts on May 1 and will be open for six months.

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