Tuesday, February 23, 2010

LITH Mold House To Net $45,000

Huntley Auctioneer Gordon Stade had to work the small crowd of bidders but he managed to get $100,000 as the winning price for Lake in the Hills' "mold house" Monday.

Only eight men with money showed up for the auction and they refused to start bidding before Stade dropped his "ask" to $50,000. That was only about what the village had in the abandoned home in mold remediation and back taxes.

Hampshire rehabber Ken Timke won the auction.  "It's going to take a lot of money (to finish)," he said.  How much?  "I'll know when I've got it done."

Village Administrator Jerry Sagona was satisfied with the result. "I think we had $55,000 into it but we netted $45,000,"  he said.  Trustees still have to accept the bid though.  They'll meet as a full board Thursday.

In the pic:  Gordon Stade had to drop his "ask" to $50,000 before he could get a bid.  "C'mon, boys.  You can't by a Porta Potty for that," he complained.

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