THE FOLLOWING IS A NEWS-GAZETTE ARTICLE BY JENNIFER BAILEY
ABOVE: The Village Mall in Danville sold again through an online auction that ended on Wednesday.
DANVILLE — There ended up being four registered bidders and two live online bidders in the Village Mall auction, which ended a little after noon on Wednesday and the mall property selling for $1.25 million.
Hunter Rupp, with selling broker Encore Real Estate, said the auction was extended 16 minutes past the initial noon deadline and the bid increments were lowered from $100,000 to $50,000 and then $25,000 to entice bidders.
The auction started on Monday and Tuesday afternoon, the Village Mall’s online auction had at bid of $900,000.
The bidding increased the sale price to $1 million, $1.1 million, $1.2 million and then the final bid of $1.25 million in the last few minutes of the auction on Wednesday. The listing stated the reserve set by the seller was met with the final bid.
The auction initially was to be in January, but the dates were moved back because “interest was lower than expected,” according to Rupp.
Rupp wouldn’t comment on the winning bidder, but said it was not a Midwest developer or private investor with a couple properties in Danville, who were interested bidders.
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