The front of the former Dew Drop Inn at 27 Broadway, Saranac Lake, is seen Monday. (Enterprise photo — Jesse Adcock)

SARANAC LAKE — The former Dew Drop Inn is up for sale.

The property at 27 Broadway is listed for sale by its owner, Chicota Inc., for $750,000. It has an assessed full market value of $137,000 in 2018, according to Franklin County records. The company bought the property for $225,000 from prior owner Ed Dukett in 2016.

Majority owner of Chicota, Calli Shelton, could not be reached by press time. Her business partner and ex-husband Randy Coles said he was OK with the property going up for sale.

“If it sells for the price it’s listed at, then we will all be fine with it,” he said.

Coles said he, Shelton, and the other minority shareholder who has not been named had not had a group meeting yet but that there had been individual communication. He said Shelton wants to see if another individual or group wants to take over the former Dew Drop’s restoration.

Chicota had planned for the three-story business was planned to operate as a combination restaurant and bar, cooking school, event space and short-term rental units. Demolition was said to be complete, along with some framing.

“The former Dew Drop Inn is up for sale, and its construction ready. Work that has already been completed includes, interior demolition to the exterior and exterior framing and the subfloor environmental testing and remediation,” the property description states. “The foundation wall has been repaired and rebuilt in some places, and there has been an addition added to the rear of the building.”

Coles added that since Shelton has said she’s returning the grant money she was awarded for the project, even if Chicota keeps the property, work could not continue until next year when grants might be awarded again.

In January, Shelton said she’d hired a contractor and that work was set to begin later that month. Work had previously stopped in October 2017 because of a lack of funding, and the building permit had expired.

It was during the course of building permit renewal that the village paused the project. The issue was a plan to rebuild nearly 70-year-old porches hanging over the Saranac River that were, according to documents submitted to the village, outside of the owner’s property line.

Village officials said at the time that they could not permit a property that its owner did not own, and because the porches’ status was unknown, they were waiting on state approvals before moving forward. Shelton told the Enterprise in February that she could not wait for those approvals to come in — it was expected to take a couple of months. She said her contractor had taken another job and that she was walking away from the project.

Over the past month, most those state approvals have come in, confirming the property line extends to the center of the river.