In all-cash deal, Inn at the Mill in Johnson sold for $5.22M

by Paul Gatling ([email protected]) 739 views 

The Inn at the Mill in Johnson (Washington County), which includes a replica of the historic Johnson Mill, has a new owner.

Washington County property records show that IATM LLC bought the 3.45-acre hotel property at 3906 Johnson Mill Blvd. for $5.22 million. The transaction was an all-cash deal.

Johnson Mill Ventures LLC, led by Jesse Burkes, was the seller. Burkes had been associated with the property for nearly 25 years and was previously the hotel’s long-time general manager until becoming owner/operator.

According to real estate broker Philip Schmidt, the listing agent for the hotel, Mountain Home businessman Brad Hasselwander manages IATM and is the new owner.

The Inn at the Mill has 62 rooms, including 54 standard rooms and eight themed suites. Johnson Mill Ventures added 16 rooms in 2019, two years after completing a deal to buy the hotel and its companion fine dining restaurant, James at the Mill, from Miles and Courtney James for $4.2 million.

Inn at the Mill was built in 1991, designed by Fayetteville architect James Lambeth, Miles James’ father-in-law. A long-time professor at the University of Arkansas, Lambeth designed contemporary residences, housing units, educational facilities and churches until he died in 2003 at 60.

Miles James, a noted chef, created the hotel’s companion restaurant concept, officially opening in 1994. The 9,890-square-foot restaurant was closed following the ownership change and converted to additional hotel suites.

The Inn at the Mill is a Choice Hotels affiliate under the Ascend Hotels collection.

Schmidt, a partner with Kelley Commercial Partners in Springdale, was the listing agent. Tom Jordan of Mountain Home represented the buyer.

Waco Title Co. of Springdale was the title agent.

HISTORY
The historic Johnson Mill that once operated on the property was first legally registered as a tax-paying business in 1835.

Following a Civil War battle in nearby Pea Ridge in 1862, the mill was partially burned down by the Confederate Army retreating from the Battle of Prairie Grove to prevent it from falling into the hands of the Union.

The Johnson family ran the mill, fed by a natural spring, from 1906 until 1977, when the mill ceased operation and fell into despair. The mill was reconstructed in 1865 and remained in operation until 1977. Due to its historical significance, the Inn at the Mill received an official Civil War Marker in 2012 from the state of Arkansas.

Today, the property has three buildings, numerous spring-fed water features, and a replica of the old grist mill. According to Schmidt, approximately 12 million gallons of mineral-rich spring water run through the property from four natural springs.

While 2 million gallons per day are used for the pond and water features, the rest is being diverted. Schmidt said a recent study showed the water to be of exceptional quality. It could be used to irrigate the entire Inn at the Mill property or sold to a bottler or agricultural enterprise for additional revenue.