Former Casey's North back on market, at least for now

NORTH CREEK The posting of a For Sale By Owner sign on the recently opened Kelly Os restaurant, has drawn some local attention. After her partner declined to pursue the project, businesswoman Kelly Hayes-ONeil was left to operate the business while seeking alternative solutions. We are still open and were continuing to lease the building from Mr. Donovan, Hayes-ONeil said. Well continue under this arrangement for as long as possible. Id like to make it clear that Ive been approved for financing, but unfortunately its not enough to meet the asking price of the property. Current efforts to continue the business in the former Caseys North location include discussions with other potential partners, and working with the property owner to seek a resolution. The restaurants staff has been advised of her commitment to the business, and she remains hopeful that a solution will be found. Right now Im really just focused on the day to day operations of the business, she said. Its presidents week and were very busy, so that part has been great. I started this project because I believe in it. Its unfortunate my partner decided to back-out, but Im still here. According to a recent press release from property owner, William Donovan, the motivation to sell the property remains high but all options are on the table. I entered into a contract of sale with Ms. Hayes and Ms. Cugini in October that allowed the partnership an early occupancy agreement with a financing commitment date of Jan. 25, 2008, with a closing TBD, Donovan stated. I still wish to sell the property and it was clearly articulated in the contract of sale and several communications that the property would go back on the market after Jan. 25 if the financing commitment was not met. After two extensions we have put back up the FSBO sign.

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