Minnesota Commercial Real Estate Auctions

Lender Ordered Online Auction in Hastings, MN

Posted by rbennett on August 30, 2013
Minnesota Commercial Real Estate Auctions / No Comments

Liquidation Sale for a ±6,160 SF Retail/Apartment Building

3 x One (1) Bed Units w/ Kitchens
Historic Building w/ Restaurant
Banquet Room & Bonus Loft
Views of the Mississippi River

$75,000 Minimum Bid

*Broker Participation Offered*
All bids must be submitted by October 3rd at 5pm
Visit website for more property and auction details;
www.FRE.com/164L1

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Lender-Ordered Online Auction

Liquidation of Commercial & Mixed-Use Properties

Ohio | Indiana | Minnesota | Pennsylvania
Wisconsin | Illinois | Michigan | Idaho

Minimum Bids as low as $10,000

*Broker Participation Offered*
All bids must be submitted by October 3rd at 5pm
Visit website for more property and auction details;
www.FRE.com/164L1

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Unprecedented Online Auction for 80+ Twin Cities Area Properties Enters Final Stretch

There are only two weeks remaining in the closely watched online auction of 80+ REO properties owned by KleinBank, Minnesota’s largest family-owned state bank. The auction, believed to be the first of its kind in the Twin Cities area, features properties from over a dozen towns and cities throughout the Minneapolis/St. Paul region, including everything from residential lots in Shakopee to large commercial buildings in Minneapolis, all offered at incredible prices.

“An online auction of this size is really unprecedented in the area,” said Dale Severson, vice president of special assets solutions at Coldwell Banker Commercial Griffin Companies. “As a broker, online auctions are a great tool to help stir up the market and get people off the fence and into the game.”

The novelty of the online auction, combined with low minimum bids on an incredibly diverse offering of properties, has drawn an immense amount of interest from an intrigued buying public, attracting nearly 10,000 hits to the website and more than 250 registered prospects.

“This auction has people excited for the first time in a long while,” said LFC’s Director of Operations Ryan Devin. “KleinBank has stepped up with this online auction, and the people of the Twin Cities area have responded. Everyone is doing their part to turn this market around.”

The auction offers a wide variety of properties across the Twin Cities area:

• Several urban commercial structures in the Twin Cities, including Washington Place, a large industrial/office warehouse located just north of the Warehouse District in Minneapolis with a minimum bid of $499,000, marked down from the previous listing price of $1.25MM. There is also a ± 2,200 SF retail/office building in the Union Park area of St. Paul with a minimum bid of $39,000
• Office condominiums (approximately ±1,536 SF each) in the North Meadows office complex in Chaska, once listed at $90,000 – $110,000, now with minimum bids starting as low as $39,000
• A historic office building in downtown Shakopee, valued at $1.2MM, is being sold with a minimum bid of $399,000

This online auction offers an unprecedented level of convenience for buyers. Instead of spending hours cramped up in a crowded ballroom, interested buyers can view property photos and other due diligence materials, as well as place bids, all from the comfort of their home or office by visiting LFC.com/914R3. The bid deadline of September 30th, 2010 is just two weeks away. Buyers are encouraged to review all due diligence materials and auction documents prior to submitting a bid. Property tours can be arranged on request.

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Upcoming Commercial Real Estate Auction Deadlines

Our company has hit the ground running since the start of the new year and it’s hard to believe that the Bid Deadlines for several of our online auctions are almost here. The online auctions on LFC.com are span across the country from California toGeorgia. Don’t miss your chance to capitalize on an incredible investment opportunity. Here are a few of our commercial real estate auctions that will end in the next few weeks.

Bid Deadline for March 25th, 2010

Bid Deadline for April 1st, 2010

Bid Deadline for April 8th, 2010

Photo Credit: seier+seier+seier @Flickr.com

Photo Credit: seier+seier+seier @Flickr.com

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Land Auction in Bemidji, MN: Bank-Owned Resort Development

LFC is venturing into the land of 10,000 lakes to auction +/-73 acres of bank-owned land in Bemidji, the largest city in northern Minnesota. Located on the western shore of Wolf Lake, this property is considered a great residential/resort development opportunity. This online auction has a minimum bid of $699,000, less than half the previous asking price. In addition, there are several other aspects of the property and the town that make this auction a must-see for developers.

The city of Bemidji is part of the Cass Lake Chain of Lakes and the first city on the Mississippi River. Famous for its renowned Walleye fishing and tales of Paul Bunyan, who made the town his “playground” (yes, the larger-than-life lumber jack who befriended a giant blue ox), Bemidji is also well known for its state university. The Canadian border and nearby Winnipeg are only a short drive from Bemidji, making it a desirable vacation getaway for those looking to escape Winnipeg’s city life and enjoy the endless outdoors activities surrounding the lakes.

The Bid Deadline for this auction is on April 8th, 2010, so I strongly recommend that you check out the online auction and all of the property details at LFC.com.

Want to know more about Bemidji or share in the conversation? You can follow us on Twitter at Twitter.com/LFC_Auction. You can also follow the Bemidji visitor information Twitter account @visitbemidji or the Bemidji State University Twitter @BSUNews.

Photo Credit: mod as hell @Flickr.com

Photo Credit: mod as hell @Flickr.com

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