Auction of prime downtown Fargo real estate failsFARGO, N.D. (AP) — An auction of some prime downtown Fargo real estate couldn't reach the seller's minimum price.
FARGO, N.D. (AP) — An auction of some prime downtown Fargo real estate couldn't reach the seller's minimum price.
The Syndicate Block includes businesses, office space and studio apartments. It's at the corner of Broadway and First Avenue North. The building was built in the 1890s.
Seven bidders were competing when the property went on the block Friday. The auction ended with the Kilbourne Group bidding $1.55 million. The company has developed some historic buildings in Fargo's downtown.
The seller says the price wasn't high enough. The auctioneer says potential buyers will get letters later, letting them know what kind of price the seller has in mind.