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Local Historical Church Does Not Sell At Auction

(February 13, 2014) Jackson, Tenn.- A historic church building was auctioned today.

 

Located at 259 W Deadrick Street, The Zion Church building that was formerly the West Jackson Baptist Church, was on auction Thursday afternoon.

 

In total, 10 parcels were going to be sold. That included the church, parking lots, a small home that was used as a parsonage, and the gymnasium located across the street.

 

This was not an absolute auction, meaning that the property didn’t have to be sold. The owners also have a reserve price. The reserve price wasn’t announced.

 

The Zion Church had board members to represent them at the auction. The last time the property was sold was in September of 2007. It sold for $650,000.

 

Interested bidders gathered around the auctioneers mobile bidding unit and awaited the start of the auction. 

 

After a brief preamble by the auctioneer, bidding opened at $500,000. Without a bid at $500,000, the initial asking price dropped down to $150,000 from a bid by the realtor. 

 

Bidding went on for a few minutes and the highest bid was placed by the Community Redevelopment Agency of $205,000. 

 

The auction group presented the number to the board and it did not meet the reserve price that the owners had in mind. 

 

Lewis Cobb, attorney for the CRA, said that the CRA was attracted to the location because of it’s proximity to the Lift Center Development. 

 

The auction group did not announce whether the property will go back up for auction at a later date, or be listed for sale. 

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