Lon Morris College auction includes office space, classrooms, ch - KYTX CBS 19 Tyler Longview News Weather Sports

Lon Morris College auction includes office space, classrooms, chapel, athletic fields

Posted: Updated:

AmeriBid:

JACKSONVILLE (KYTX) -- On the surface, the upcoming bankruptcy auction of Lon Morris College appears to be simply the sale of the school. But when bidders gather Jan. 14 in Dallas to bid on the properties, they'll also be making offers on 16 different groupings of facilities and land.

That means the college campus and related properties could sell to one bidder or to as many as 16. The auction will begin at 11 a.m. in the Dallas offices of McKool Smith PC. "After weeks of hearing from prospective buyers and what their needs are, we've organized the property by types of buildings. For example, most of the classroom buildings, dormitories, cafeteria and other facilities will sell as a single lot, which will interest those seeking a location for a college or similar property.

The Wilson Administration Center -- which is suitable for use as a high-end office building or for executive education -- will sell as part of the larger campus or as a one-building lot, with surrounding land and parking," said Stephen Karbelk, president of AmeriBid, the company marketing the campus and preparing for the auction. "We've sought to configure the property in such a way as to allow the greatest possible participation. Somebody might be interested in the office space but not in classroom space, dorms or athletic facilities," said Karbelk. "Wilson Chapel and its parking area could sell as a single lot and may well appeal to a church, for example." The athletic facilities will be packaged in several different groupings, and several homes owned by the college are expected to sell individually. Karbelk said potential bidders include colleges, churches, denominations, school systems, investors and others who might wish to use all or parts of the property for education, business or a mixed use development.

Individuals seeking additional information about the auction may visit www.AmeriBid.com <http://www.ameribid.com/> or call 877-895-7077. Details about the lots in which the campus will be offered are posted at that website. AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies.

  • Local NewsMore>>

  • Girl, 4, allegedly killed by her mom is laid to rest

    Girl, 4, allegedly killed by her mom is laid to rest

    Monday, July 28 2014 5:38 PM EDT2014-07-28 21:38:53 GMT
    ATHENS (KYTX) - A four-year-old Athens girl Victoria Wyatt has been laid to rest, a little less than a week after her mother confessed to killing her.More >>
    ATHENS (KYTX) - A four-year-old Athens girl Victoria Wyatt has been laid to rest, a little less than a week after her mother confessed to killing her.More >>
  • 1 dead, 13 injured after lightning strikes Southern California

    1 dead, 13 injured after lightning strikes Southern California

    A sunny day at California's famed Venice Beach took a dark turn Sunday when one person died and a dozen others were injured after a rare lightning strike. A man in his mid-20s died at the hospital after being transported from Venice Beach.More >>
    A sunny day at California's famed Venice Beach took a dark turn Sunday when one person died and a dozen others were injured after a rare lightning strike. A man in his mid-20s died at the hospital after being transported from Venice Beach.More >>
  • SPECIAL REPORT: You Don't Know Where That's Been

    SPECIAL REPORT: You Don't Know Where That's Been

    After a few disastrous flu seasons, and recent increases in staph infections nationwide, spreading germs is becoming more and more serious. In a special report, we tested a bunch of things we touch every day to see how filthy they really are.More >>
    After a few disastrous flu seasons, and recent increases in staph infections nationwide, spreading germs is becoming more and more serious. In a special report, we tested a bunch of things we touch every day to see how filthy they really are.More >>
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.