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Auction Property Attracts Much Attention

DENVER-A 2,209-sf, mixed-use building in the hot Highland neighborhood north of Downtown sells for $351,000, about 20% less than the going rate for property in that area despite a diverse group of bidders.

By John Rebchook | Updated on May 24, 2001

DENVER-It is a small building in a hot neighborhood that attracted a lot of attention from a diverse group of investors and users. The local office of Chicago-based Sheldon & Good, recently auctioned a 2,209-sf, mixed-use building in the Highland neighborhood north of Downtown for $351,000.

”It’s probably the lowest price we’ve auctioned anything in Colorado since the ’80s, when we used to auction a lot of (bank repossessed properties),” says Jim MacDonnell, who heads the Denver office for the auction house.

Sheldon Good took on the assignment on such a small property because he hopes to generate more business in the area, MacDonnell says. He says he can’t release the name of the buyer until she closes in June.

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