One hundred years ago, the First Chance, Last Chance Saloon at 508 Main St. stood on the edge of Rapid City, offering travelers the first chance - or last chance - for a drink, depending on whether they were coming or going.

While the current remodeling project won't return the building to its former glory as a watering hole, it will become a new place for gamers to shop when it opens in a few months.

Clancy and Somer Kingsbury, owners of Who's Hobby House, bought the building earlier this year. They are turning it into a retail shop that specializes in all kinds of games and offers a place for gamers to play and hold tournaments.

Clancy Kingsbury said the inventory will include games of all sorts: collectible card games, miniature battle-type games, traditional games including chess and cribbage, and generally hard-to-find games not normally on a big box store's shelves offering names like "Magic: The Gathering," and "Warhammer."

"Right now, it looks like in all probability it will be called 'First Chance, Last Chance Games' - but no booze," Clancy Kingsbury said. "That's what it used to be originally in 1908, when it was built. We've got a picture from around that time period, and that's what it shows. We left it on the paper work, but no, it's not going to be a saloon."

The building, which is listed on the National Register of Historic Places, is one of three buildings in Rapid City that recently qualified for a state historic preservation property tax moratorium. For eight years, a freeze is placed on the property tax assessment of any improvements made to restore or rehabilitate historic buildings.

Kate Nelson, restoration specialist with the South Dakota State Historical Society, said the owners still pay property taxes, but their assessments can't be raised for an eight-year period based on the rehab work they've done.

The property tax moratorium is an incentive for owners to maintain and rehabilitate their homes and businesses listed on the National Register of Historic Places.

Other sites in Rapid City approved for the moratorium include the Windsor Block, 625-629 St. Joseph St.; and the Fairmont Creamery Building, 201 Main St. All three buildings are listed on the National Register of Historic places.

Kingsbury said the remodeling is going well, although securing the necessary permissions to work on a historic building has taken a bit longer than expected. But he expects the project to be completed sometime in early 2009.

"We're really just waiting for warm weather to paint the exterior, and then next spring, we'll put an awning on it that looks a lot like the original awning did. We're hoping to open in early spring or sooner," he said.

Mac Construction Co. is doing the work, Kingsbury said. The company has worked on other projects downtown, such as a renovation of the Sears Building in the same block, and is experienced with working on historic buildings, he said.

"We want it to look historically accurate as much as possible," Kingsbury said. "We've got the picture showing the building in 1908, and at the time, there were no buildings on either side of it. It just stood alone. It's hard to believe, but I think it was on the edge of town. It does definitely have some historic value to downtown."

Unfortunately, Kingsbury said, he doesn't have much more than the photograph, which was published in a book about historic architecture in the state. Details about the building's past uses have been sketchy.

"We weren't sure what to expect, but the tin brick up above (the door), that reddish color brick, that was actually the original in 1908. We were happy to see it was in pretty good shape," he said. "We're going to treat the rust on that, prime it and paint it. We've picked out some colors that will look really nice on it."

Contact Scott Aust at 394-8415 or scott.aust@rapidcityjournal.com