Lon Morris College requests Dec. 13 date to auction off its camp - KYTX CBS 19 Tyler Longview News Weather Sports

Lon Morris College requests Dec. 13 date to auction off its campus, assets

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JACKSONVILLE (TYLER MORNING TELEGRAPH) - Lon Morris College is preparing to auction off its campus next month.

The 168-year-old junior college in Jacksonville, which filed bankruptcy in July, is seeking court approval for an auction at 11 a.m. on Dec. 13, with AmeriBid LLC conducting the auction for qualified bidders only at McKool Smith, 300 Crescent Court, 12th floor, in Dallas, according to a news release sent today.
Upon approval by the United States Bankruptcy court, the core of the college's 112-acre campus will be auctioned, including a library, chapel, administration building, classroom facilities, student center, dormitories and fields, the release states.

"We're delighted to have the auction plans finalized. AmeriBid will be providing prospective bidders with detailed information about the school and its extensive campus," Lon Morris Chief Restructuring Officer Dawn Ragan said in a prepared statement.

Stephen Karbelk, co-chairman and founder of AmeriBid, said in a news release that he anticipates prospective bidders to include other colleges, churches, denominations, school systems, and "other groups that might wish to use the property as a conference center, corporate retreat or even residential treatment center."

According to a news release, the college will be offered in multiple parcels and as an entirety.

"It will sell in the combination of parcels that brings the highest total price for the school," Karbelk said in a news release.

The former United Methodist college, which was the state's oldest two-year college, has approximately 50,000 square feet of academic lecture halls, five dormitories, a technology center, a gymnasium, an athletic training complex, and fields for football, baseball and other sports.

"It would make an excellent home for seniors, substance rehabilitation center, juvenile detention facility, or any of a number of other uses," Karbelk said in a news release. "We're providing very detailed information on the various facilities to make it easier for interested individuals."

All sales will be consummated through a Chapter 11 Plan confirmed by the Bankruptcy Court, giving the purchaser the assurances of a federal court order.

Individuals seeking additional information about the auction may visit www.AmeriBid.com or call 877-895-7077.
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