Prime real estate selling at auction June 14 near Kinnick Stadium
What an interesting day we have on tap near Kinnick Stadium - and the Iowa Hawkeyes aren't even playing.
Steffes Group on June 14 will sell at auction 9.3 acres of prime residential development land just off the University of Iowa campus. The auction company says this will be the first time the land has been offered for sale in more than a century. The land is being sold in a single tract by the Ruth V. Swisher Revocable Trust.
Nestled between Kinnick Stadium, Carver-Hawkeye Arena, Finkbine Golf Course and the University Athletic Club, this land, currently zoned R-1, will certainly bring out the big hitters in development.
David Biancuzzo, an agent at Coldwell Banker in Iowa City, said such a parcel should bring between $65,000 to $85,000 an acre - under normal circumstances.
"It might bring more because of its proximity to the University," Mr. Biancuzzo said. "And if the University gets involved, it could get driven up significantly."
Nate Larson, representative for Steffes Group, said the current zoning would be for higher-end homes.
"It is amazing that this land has remained in a trust and undeveloped until now," Mr. Larson said. "This is a very rare opportunity to obtain a substantial amount of development land so close to the University."
The land, primarily wooded, will sell as a single parcel at 1 p.m. June 14 at Hotel Vetro in downtown Iowa City. Online bidding is available with advance registration.
For more information visit SteffesGroup.com or call the auction company at 319.931.3944.