The auction will be run by Nathan Auction & Real Estate Inc. of Manchester.
Eric Nathan, owner of Nathan Auction & real Estate Inc., was contacted by Ben Hauben, current owner of the property, to host an auction to sell what remains of the old Sirloin Saloon.
"It's as much an interest for the local community as it is an auction day," said Nathan. "I expect to sell most of the items I put up."
The building has been closed since December, 2011.
On Wednesday, Oct. 10, after The Journal went to press, the Development Review Board was expected to discuss the possible demolition of the former restaurant that has been a presence on Depot Street for more than six decades. Further information on the decision will become available on The Journal's Web site later in the week.
The building's condition was a driving factor in the decision to consider demolishing it, Hauben said.
"The existing property is in really poor condition," he said. "Enough so that we are considering demolishing the building."
Preliminary discussions have started on what to do once the building is demolished. Hauben hopes to construct a new restaurant on the property, but first he needs to find a company to manage it, he said.
"I remember when Tony Perry ran it. It was a flourishing institution. I used to eat there all the time," said Hauben.
Before it was known as the Sirloin Saloon, it was owned by Anthony Perry, and was known as the Five Flies. It opened in August 1963 and was a night club and community hot spot. In 1969, Perry discontinued the night club business, renamed it the Sirloin Saloon, and it became a true steak house.
Perry later sold the restaurant and three other parcels of land in July 1976.
In a phone interview, Perry reflected on the memories he had there as a youngster, how he used to fish in the river when it used to flow through the mill and past what is now Donald Dorr's Car Wash.
"I remember that building in 1947 when the damn broke, of course the original building was a mill and the mill pond was behind it. When I owned the building all the old pieces were still under the floor," Perry said.
"I'm sad to see it go," he added. "Because it represented a big piece of my life. Things come and things go. I understand if it will be replaced. Throughout the years there has always been change."
A follow up on the discussion Wednesday night at the Development Review board will be posted to the journal's Web site as soon as possible.