Private Investor Group Selling 130 Residential Lots in Five Counties

ORLANDO-A private investor group is liquidating 130 residential lots in five Central and North Florida counties and is willing to finance a portion of the assets at the April 22 morning auction at the Embassy Suites Downtown Orlando hotel. The lot sizes are one-fifth of an acre to a half acre.

Chicago-based Sheldon Good & Co. is conducting the auction. A total 118 of the home sites are in Putnam County, about 70 miles north of Downtown Orlando. The other lots are south of Jacksonville in the Palm Coast area of St. Johns and Flagler counties; in Citrus County; and near Ocala horse country in Marion County.

The Putnam lots are in the Interlachen area, off Route 20, which runs between Jacksonville in the northeast and Gainesville in the northwest portion of the state. The two-lane area is scheduled to be widened to four lanes, “creating a major east-west corridor across Northern Florida,” says Sheldon L. Good, chairman and CEO of his company. Area land brokers tell GlobeSt.com it is difficult to forecast prices. “On the commercial side, most builders and developers buy [residential] lots in bulk so the price per lot goes down according to the number of lots purchased and the buying terms involved,” a Marion County broker tells GlobeSt.com. “But when you buy single lots or just a few lots at one sitting, the price generally is much higher than the commercial rate.”