Former Duke and Long Co. convenience stores and gas stations vacant for five years have been sold, and most will be redeveloped for other types of businesses, according to the new owners.

The sale of five stores in Paducah and one each in La Center, Eddyville and Hardin will be finalized as soon as U. S, District Court Judge Tom Russell approves the sales and paperwork is completed from last month's bankruptcy auctions.

Completing a sale after auction requires about 30 days, said Tom Keuler, attorney for the city of Paducah. "Finalizing the sales is a formality and should be completed by the end of April," Keuler said. At least one transaction is expected to be final next week.

Duke and Long was,sold in November 1999 by Randy Long of Paducah to Texas-based Devon Holding Co. Devon filed for bankruptcy in November 2000, and many of its stores were closed by summer 2001.

The auction produced $1.36 million, far less than the $6.5 million sought from loans and past-due interest by LaSalle Bank National Association, a Chicago-based banking association.

The properties will be free and clear of any liens.

The sales also create a small financial windfall for government agencies to recover up to six years of back taxes before any money is paid to the bank holding company. The city of Paducah, for example, is owed about $40,000, according to court records.

Here's a look at each property:

3147 Park Ave., Paducah

The $132,000 high bid was from Wynn Sales and Service, owned by Chip Wynn of Paducah, who owns four acres adjacent to the former convenience store. LaSalle was trying to recover $437,000 from a loan and past-due interest.

Wynn, who owns the Buick, Jeep and Eagle auto dealership at 1127 Broadway, said he wasn't ready to announce his plans for the property, but said it won't be used as a gas station.
Asked ifhe might move his dealership to the site, he said: "Anything is possible in the future; I'm not going to shut the door on any possibilities."

New-car dealerships and used-car lots are prominent along that section of Park Avenue, about two miles from Kentucky Oaks Mall and Interstate 24.

2634 Jackson St., Paducah

The property will be expanded to become the Superway Cafe, according to Superway Inc. owner Tim Masoud of Paducah. He bought it for $75,000. LaSalle was seeking $398,000.

Masoud operates at least two other convenience stores in Paducah under the name Superway, but said he has different plans for this site. "The plan is for a European-style cafe," he said. "We'll sell doughnuts and Baskin & Robbins (ice cream)."

1415 Lone Oak Road, Paducah

Newcomb Oil Co. of Bardstown was the high bidder at $390,000. LaSalle's lien on the property was $1,004,000.

Although the building on the property is less than 10 years old, Jack Newcomb said it will be taken down and replaced by a new convenience store similar to the company's Five Star Food Marts. He didn't know the timetable.

3412 Irvin Cobb Drive, Paducah

Newcomb Oil is purchasing the property for $320,000. LaSalle was seeking to recover $884,000.

Newcomb said the plan is to resell the property, but so far he doesn't have a buyer.

666 Frank Tanner Ave., Eddyville

Newcomb was the high bidder at $131,935. LaSalle was owed $623,000.

Newcomb said the property is being resold, and "we already have a buyer." The unidentified buyer will use it for unspecified commercial development, not a gas station, Newcomb said.

103 East Kentucky Ave., La Center

Clyde and Anne Stevens were the high bidders at $96,000. LaSalle was seeking $443,000.

Clyde Stevens, owner of Stevens Chevrolet in La Center, said he has no immediate plans for the property. It is located "on the other end of town" from the car dealership, Stevens said.

"It just seemed like a good investment," he said. "I have no plans right now for a service station, but I might in the future."

1024 S. 21st St., Paducah

CFL Properties of Paducah acquired it with a bid of$132,000. LaSalle was owed $749,000 from the loan and interest.

Kim Overby of CFL said it will be a convenience store. "It should be open within a month," she said.

CFL operates several Cigarettes for Less stores in Paducah, and a convenience store at H.C. Mathis Drive and Cairo Road.

7411 U.S, 641, Hardin

The buyer is Robert Hooks of Murray for $85,000. The default on Duke and Long's loan and interest was $866,000.

Hooks said he purchased the property as an investment and is already negotiating with a potential buyer who envisions a commercial development, but not a gas station.

306 E. Main St., Cadiz

No one bid on the property, according to court records. LaSalle Bank is trying to recover $291,000 in principle and interest from its loan to Duke and Long.

Another convenience store in Independence in northern Kentucky is scheduled to be sold May 1. The outstanding loan and interest on that property is $2,508,000.

Court records reviewed by the Sun on Friday did not indicate the status of Duke and Long properties in Kevil and Calvert City that also were ordered sold as part of the bankruptcy proceedings.