CROWN POINT | A piece of city-owned real estate will go on the auction block Saturday.
The vacant home on an approximately half-acre lot at 301 W. South St. is expected to generate buyer interest especially for its proximity to the downtown, said auctioneer Jim Bednar, of Crown Point based Bednar Auction Service. The auction starts at 1 p.m.
"It's an amazing location," Bednar said.
City officials bought the property in 2005 as the possible site of a stormwater improvement project which was later abandoned, said Keith Stevens, Crown Point chief of staff.
The 1,690-square-foot, three-bedroom home built in 1965 has been vacant for several years and needs some repair, Bednar said.
The house will be sold as is, Bednar said. "The only thing we guarantee is that it will come with a clean title."
Potential buyers could range from investors who would fix up the home for resale, to families who just want to live in Crown Point, Bednar said.
A minimum price will be set on the property, Bednar said. The amount of the minimum price won't be revealed during the auction but must be met for the property to be sold.