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Auction 07-8

Real Estate Auction 07-8
54-Unit Housing Complex – Knoxview Apartments
44 Middle Street, Bucksport, Maine SOLD $1.6 MILLION
Thursday, October 18, 2007 at 2PM

Real Estate: Site - 12.26± acre parcel - frontage and access on 3 streets, Middle (78.32+/- ft.), McDonald (224.93+/- ft.) and Franklin (295.64+/- ft.) - paved parking (63 spaces) - sidewalks, landscaping, wooded areas, large lawns, playground - public water and sewer Improvements - (9) multi-dwelling buildings - (54 units total) - Brick Building (43,490± SF) has (34) 1-bedroom units and (4) 2-bedroom units - common area laundry - community lounge - elavator - rubbish chutes - balconies and views of the Penobscot River. Townhouse Buildings (18,272± SF total) - (8) separate buildings containing (2) units each and have (12) 3-bedroom units and (4) 4-bedroom units - laundry hook-ups - private fenced yard areas. Reference the Town of Bucksport Tax Map 34, Lot 53.

Development Potential:Property has potential to be subdivided into two parcels. The first parcel would contain 4.14+/- acres improved with the 38-unit brick building, and the second parcel would contain 8.12+/- acres improved with 16 townhouse units. The entire property has potential to be placed into a condominium with 54 individual condominium units available. Refer to subdivision and condominium surveys and floor plans contained in Property Information Package. Available from Auctioneer.

Preview Date: Thursday, October 4, 2007 from 10AM-12PM

Click Here To View Aerial Map

From Bangor, take Exit 4 off I-395, follow Rt. 15 south 17 miles to Bucksport, left onto McDonald St., left onto Middle St. to property at the end.

From Augusta, I-95 take exit 113 to Rt. 3, follow Rt. east to Belfast, left onto Rt. 1 north, follow to Bucksport, left onto Rt. 15 (Main St.), right onto McDonald St., left onto Middle St. to property at the end.

Terms: A $50,000 deposit (non-refundable as to the highest bidder) in CASH or CERTIFIED U.S. FUNDS made payable to the Keenan Auction Company (deposited with Auctioneer as a qualification to bid), and increased to 10% of purchase price within 5 days of sale in cash or certified U.S. funds, with the balance due and payable within 45 days from date of public sale. 10% Buyer's Premium. For our real estate Property Information Package containing legal and bidding documents contact Auctioneer’s office at (207) 885-5100 and request auction number 07-8. Richard Keenan #236 - Our 35th year and 4,924th auction.

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