The Little Bear Inn has been a Cheyenne-area institution for 60 years. This month, the iconic restaurant and saloon will hit the auction block. The online auction will take place Thursday, April 19th with an opening bid of $50,000.

Little Bear Inn has operated at its current location since 1958. The site itself dates back to 1877 when it served as a stage stop on the Cheyenne to Deadwood trail. Over the years, it has been a casino, saloon and outlaw hangout. In recent years, the restaurant has become renowned for their "World Famous Fancy Fried Lobster".

The restaurant is being offered turnkey, with a five-acre lot, transferable liquor license, 7,000 square foot building, and the furnishings inside it. Public inspections will be held from 11 a.m. to 2 p.m. on April 6th and 13th.