JUST SOLD! Michael’s on the Hill Restaurant
4182 Waterbury-Stowe Road, Waterbury Center, VT 05677
Listed by Steven Foster and Ken Libby
Sold by Jessie Cook (Coldwell Banker Hickok & Boardman)
Michael’s on the Hill, the award-winning, landmark restaurant located in the Waterbury/Stowe area for 20+ years, sold for $1.2 million. This highly visible property on Route 100 is a meticulously restored and decorated 1820s farmhouse with multiple intimate dining spaces for up to 82 guests.
The sale included a loyal customer base, inventory, 4 acres, furniture, equipment, website and intellectual property.
Congratulations to new owners Don Jones and Andrew Kohn, who also run Stowe’s Brass Lantern Inn. We can’t wait to see how your vision adds to this incredible culinary enterprise.
We also extend our best wishes to former owners Laura and Michael Kloeti as they embark on an exciting next chapter!
In the news:
• “Michael’s on the Hill in Waterbury Center Sold to New Owners,” by Melissa Pasanen, Seven Days
• “Michael’s on the Hill restaurant purchased,” by Aaron Calvin, Stowe Reporter
• “To Our Dear Friends, After many incredible years of serving our community, we have made the heartfelt decision to pass the torch to new owners...” (Michael’s on the Hill Facebook page)
5-star Google review from Laura Kloeti:
“We recently sold our business with Hickey & Foster Real Estate. There were many moving parts to this sale, and Steve Foster was really wonderful. He was very knowledgeable, with a clear understanding about what we might expect throughout the process and he was extremely helpful assisting us in navigating through the complicated issues. We always felt that we had an ally in him and would recommend him any time!
When we had to deal with a fire inspection issue with our staircase, requiring an immediate professional opinion, Mike Hickey, who has a builder background, came right over to check things out for us.
Steve also has a calming spirit which is something that we truly appreciated. The sale of a business can often become personal and very stressful. He kept things clear, acted as an excellent liaison between us, the sellers and other parties, was always available to us, and did it all in a kind, respectful manner that we appreciated very much. In the end, we left feeling that we not only sold our beloved business, but made some new friends at Hickey & Foster!”