Elks Lodge in downtown Loveland has sold to Michael Pelphrey, a local private investor, for $1.85 million. Pelphrey has purchased the 100-year-old building with a vision to create a live performance venue.
Located at 103 East 4th Street, the historic property was originally constructed in the early 1900s to serve as a hotel near Loveland’s downtown train station. The Elks organization acquired the approximately 25,500-square-foot building in 1927 and has used it as their local headquarters.
Originally from Austin, Tex., Pelphrey saw the investment as an opportunity to heighten Loveland’s live music scene and support the local art community. Pelphrey aims to create a place where local talent can practice and perform in one location. His plans for the property include preserving and enhancing the building’s early 20th-century design and architecture.
Julius Tabert, first vice president with CBRE’s Fort Collins office represented Pelphrey in the sale.
“This is a marquee property transformation that will build on the historical redevelopment happening across downtown Loveland. Mike’s dream to create a live music venue while preserving the building’s historic charm is an exciting addition to the greater Loveland community,” said Tabert,