YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe
The parcel includes structures in various stages of development.Photo provided by FOSTER AUCTION
The parcel includes structures in various stages of development.

Photo provided by FOSTER AUCTION



Indian Ridge parcel sells for $325K at auction

Posted online
A 25.17-acre parcel of Branson West development Indian Ridge Resort Community yesterday sold at auction for $325,000.

Foster Auction & Appraisal Service owner Larry Foster said the entire parcel sold to a single buyer, whom he declined to name. Foster, whose company was enlisted to sell the property by Stone County Circuit Court, said the winning bid came in at less than the auction's advertised price of $550,000.

"It sold for way less than I thought it would," Foster said. "I think most involved thought it would do much better. But it did sell."

Foster noted a court official present at the auction was able to accept a lesser bid.

The parcel included 80 lots, 13 structures in various stages of development for 26 condominiums, more than 400 feet of Highway 76 frontage and a double-sided billboard, according to the auction listing.

The auction was ordered to satisfy liens filed by 10 companies against Denver-based North Shore Investments LLC, which purchased the land from Indian Ridge Resort Inc. and its owner Jim Shirato, according to Springfield Business Journal archives.

In 2005, Shirato broke ground on the planned $1.6 billion, 850-acre Indian Ridge Development, which has stalled due to clean-water violations from the state and funding issues after the developer's former bank was shut down by federal regulators.[[In-content Ad]]

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Coronavirus Coverage

SBJ compiles news on the respiratory virus outbreak.

Most Read
SBJ.net Poll
How soon do you plan to return to your employer’s office?

View results