Newport Beach, CA – January 22, 2012 – (RealEstateRama) — Built in 1909, the historic building at 1800 Jefferson Street is steeped in tradition but a campaign to sell it is every bit modern. Formerly St Luke’s grade school, the Marquette Manor Senior Apartments is being sold via an online auction on the Freedom Realty Exchange website, FRE.com
The building was renovated in 2001 and added to the National Register of Historic Places. The renovation project preserved the rich history and workmanship of the building: the original mahogany hallway lockers, terrazzo floor, and pressed tin ceilings, winning it the title of Best Reuse Project in the 2002 Wisconsin Main Street awards.
The current owner’s decision to sell the property utilizing this alternative method was motivated by the benefits of an online auction; broader exposure to potential buyers, faster sales cycle and the fair bidding process. Anyone with internet access is able to conduct their due diligence by downloading and reviewing important property documents on the website prior to placing bids which are also made completely online.
“The online auction also benefits buyers and the current residents of the property”, states Ryan Devin, director of operations for the auction company. “Buyers can conveniently participate in the auction regardless of where they are physically located, and the online bidding avoids an “auction circus” that typically comes with conducting an on-site, outcry auction at the property.”
Located directly across from Central Park, the downtown location of Marquette Manor gives residents walking distance from shopping, museums and the East Twin River. The 32-unit building features one and two bedrooms rooms with central air, kitchens and common area laundry facilities for residents.
Interested buyers can view specific property documents, additional photos and auction information such as terms and conditions of sale by visiting FRE.com/151R4. The starting bid is set at $199,000 with a bid deadline of March 21st. Bids can be conveniently and securely submitted on the website until 5:00pm that day.
About LFC Communications, Inc. part of the LFC Group of Companies
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of properties ranging from commercial and industrial to land and residential, with total sales exceeding $5 billion. Over the last nine years, it has conducted real estate auctions exclusively online. It has also successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages by providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.