Lowering The Value Of Capitol

A real estate agent handling the sale of the Capitol Music Hall for Live Nation thinks the $850,000 asking price will likely come down after the only bid for the venue to date fell through.

"I am optimistic that it will eventually be sold, but I am not sure about a price or a time frame," realtor Carl Nix told the News-Register of Wheeling, W. Va.

A local dentist and his partners reportedly backed out of an agreement September 19th to purchase the Capitol Music Hall, and no other offers have been reported.

In addition to the asking price, any buyer would be required to make numerous repairs and upgrades to the property. Refurbishing the venue is estimated to cost as much as $5 million.