Ocala's 84-year-old Ritz Historic Inn, a 32-suite, Spanish Mission architecture landmark on the National Registry of Historic Places, is scheduled to be auctioned off at its site on East Silver Springs Boulevard at 11 a.m. Jan. 21.

The Marion County Circuit Court ordered the sale on behalf of a local lender who does not want possession of the property. The auction will be conducted by a Tranzon Driggers auctioneer.

The buyer must provide a 10 percent down payment by Feb 22.

The inn became Ocala's first apartment complex in 1925 and was expanded in 1951, followed by renovations in the 1980s and operation as a downtown inn.

As a resort, the Ritz had a taxable value of $1.2 million. The property has four two-story residential buildings on 2.5 acres.

Previews of the property for prospective bidders will be available Thursday and Jan 14.

Information is available at www.tranzon.com.