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Beloit courthouse sold; buyer, plans undisclosed
By Julie Becker
Daily News staff writer
Less than three weeks after it was placed on the market and after only one open house, the former Beloit Courthouse has been sold to an undisclosed buyer, Beloit Auction Service, Inc. announced Tuesday.
Former owner Roger Bryden, who purchased the property for $65,000 in May 2006, recently enlisted Beloit Auction Service to help sell the government building, along with an adjacent piece of riverfront property, to someone in a better position to transform it, he said.
The auction was set to take place Nov. 17, but the buyer made an offer Bryden couldn't refuse, Beloit Auction Service President Richard Ranft said late Tuesday afternoon.
“Auctions are no different than regular real estate - the owner always has control. We're obligated by law to present an offer to the owner, and once we present it, it's up to him what he does,” Ranft explained.
“We had an open house this past Saturday and there were a lot of people there. It might have gotten more, but you never know with an auction,” he said.
Because Beloit Auction Service is still closing on the property - a process that could take up to 30 days - Ranft was unable to release the buyer's identity or the amount he or she paid for the Beloit Courthouse.
Bryden had indicated last week that he estimated the building was worth about $300,000, and the adjoining 2.5-acre parking lot about $150,000, and confirmed today that both properties were sold in the ballpark of those amounts.
Bryden had mentioned a restaurant, banquet hall or apartment complex as some of the ideas he'd considered for the space, and said today he'd been in contact with a friend who may be able to see a similar idea through.
The closing on the property will be announced in the near future, Ranft said.
Former owner Roger Bryden, who purchased the property for $65,000 in May 2006, recently enlisted Beloit Auction Service to help sell the government building, along with an adjacent piece of riverfront property, to someone in a better position to transform it, he said.
The auction was set to take place Nov. 17, but the buyer made an offer Bryden couldn't refuse, Beloit Auction Service President Richard Ranft said late Tuesday afternoon.
“Auctions are no different than regular real estate - the owner always has control. We're obligated by law to present an offer to the owner, and once we present it, it's up to him what he does,” Ranft explained.
“We had an open house this past Saturday and there were a lot of people there. It might have gotten more, but you never know with an auction,” he said.
Because Beloit Auction Service is still closing on the property - a process that could take up to 30 days - Ranft was unable to release the buyer's identity or the amount he or she paid for the Beloit Courthouse.
Bryden had indicated last week that he estimated the building was worth about $300,000, and the adjoining 2.5-acre parking lot about $150,000, and confirmed today that both properties were sold in the ballpark of those amounts.
Bryden had mentioned a restaurant, banquet hall or apartment complex as some of the ideas he'd considered for the space, and said today he'd been in contact with a friend who may be able to see a similar idea through.
The closing on the property will be announced in the near future, Ranft said.
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