St. Louis County Holds Waterfront Land Auction
St. Louis County is holding an online auction of waterfront properties that are remainders from their former shoreland lease program. The auction is currently open and will remain open until March 11 at 11:00 AM.
The county ended its shoreland lease program back in 2012. At the time, the current leaseholders of the properties involved were given the chance to purchase the land that they had been leasing at market value, to relinquish the lease to the county for sale, or to continue leasing for the lifetime of the leaseholder. The relinquished properties have been available through the regular land auctions that St. Louis County holds; this particular auction is being focused specifically on these former shoreland lease program properties.
It's worth noting that properties from the former shoreland lease program are unique from other tax forfeited properties that St. Louis County has offered in the past - because they involve two prices. According to details released by the county with the announcement of the sale, the first if the price of the land, which is the starting bid and can be bid up. Additionally, there is a fixed price for the cabins and other improvements owned by the former leaseholder. As a condition of the sale, the winning bidder must agree to pay the improvements price to the former leaseholder.
Even with the two-step pricing process, this is an excellent way to get a great parcel of waterfront property at a decent price. To take part in the online auction, click here to visit the catalog.