Keating Resources expanded its investment footprint in the Black Hills with the purchase of the 34,000 square foot four-story historic structure at 51, 53, and 55 Sherman Street in Deadwood. The seller, Mary Larson, operated the property as Deadwood Dick’s (www.deadwooddicks.com) for the last 40 years.

Alec Keating, partner with Keating Resources, said that

“The company will restore the historic structure adding rental apartments, available on a per-night basis, on levels 2-4 and will update the 6,000 square foot first floor with a 25 seat outdoor patio which the company is offering for lease.”

Keating said that the company expects the space to be occupied by a sports book, subject to legislation currently under consideration by the State legislature. This investment adds to investments the family company made in Spearfish and Custer in October. Keating also said, but for Sharon and Scott Jacobs investment at Jacob’s Brewhouse and Grocer on Sherman street, the family would not have purchased the property.

Mike Percevich with the Real Estate Center of Lead-Deadwood represented the buyer and seller. Brad Curtis with Black Hills Federal Credit Union arranged the financing.

For more information, please contact Alec Keating at 630-648-9967 or at alec@keatingresources.com