The refurbished Solon Hotel is reflected in water recently in the parking lot at 4 S. Main St. in Solon. Michael G. Seamans/Morning Sentinel file
SOLON — An owner of the refurbished Solon Hotel says a decision she and her husband made to put the landmark building on the market a month after reopening is not necessarily an indication a sale is imminent.
The four-story, 4,000-square-foot hotel and restaurant at 4 S. Main St. was built in 1895 on the foundation of the historic Caratunk House, which burned down in 1893.
Faith and Bruce Goguen bought the deteriorating property in September 2021 and spent about two years renovating it.
The Goguens early last month opened the restaurant and bar, which was greeted with anticipation by many in town. Bands have been providing live music and karaoke is offered. The couple said rooms will eventually be available for lodging, including a fourth-floor family or group suite, and for a full-service restaurant and function hall.
Last week, some went to social media to express surprise the property — so soon after opening day — was listed for sale by Crescent Realty Group for $999,000.
Faith Goguen said Friday that listing the building was a business decision, and the couple does not anticipate selling “anytime soon.”
The Goguens are entrepreneurs who own rental properties in the area and Wicked Lettuce, a smoke shop and dispensary at 55 Main St. in Madison. Given their experience, Goguen said she and her husband can anticipate how long it takes to sell property in Maine, especially commercial space.
Faith Goguen said renovating the building is a “labor of love,” and listing it so soon is a part of a five-year plan. She said that since she and her husband are in their 50s, and while they are not actively looking for a buyer, they do not want to run the property in their 60s.
“I want to keep just doing what we’re doing, and we’re doing fantastic here,” she said. “But we’re also business-minded, where if you have an opportunity, you should set up that opportunity somewhere down the road, right? That’s all it is.”
Owners Bruce and Faith Goguen stand in October 2021 on the front porch of the Solon Hotel at 4 S. Main St. in Solon. The couple have spent about two years renovating the landmark property. Rich Abrahamson/Morning Sentinel file
The listing describes the property as “located in an ideal location with high traffic counts,” and includes that further information will be released after any interested party signs a confidentiality agreement. The listing includes photographs showing exterior and interior upgrades.
Faith Goguen said the hotel is gearing up for a promising summer as people flock to the area for recreational opportunities in nearby Bingham, The Forks, Moosehead Lake and Carrabassett Valley, home to the Sugarloaf ski resort.
She said sales are “phenomenal” a month into opening.
“It’s been an upsetting couple of days,” Goguen said of some criticism over the listing, given the amount of time, money and energy she and her husband have invested in revitalizing the landmark.
“We put our heart and soul into this place, and we’re still going to for years to come,” she said. “That was just a business move.”
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