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Fish Creek condominiums sell at auction for $2.8 million

Four condominiums in the new Gibraltar Condominiums complex overlooking Green Bay in Fish Creek, WI, sold at auction for a total of $2,821,500.
 
Bidders from five states -- Michigan, Colorado, Illinois, Wisconsin and New Mexico -- gathered at the Stone Harbor Resort and Conference Center in Sturgeon Bay, WI, for the auction each presenting a cashier's check of $25,000 to register for the sale. The auction itself took only 30 minutes.
 
Selling the condominiums was Madison-based real estate executive Terrence Wall, owner of T. Wall Properties.

Wall said he was pleased with the outcome. Based on seeing the auction occur and seeing the bidding, I know that I got the best possible price I could have gotten, he said.  If I ever did another project that an auction might fit in, I seriously would probably go straight to auction, he added.

All of the buyers indicated they were purchasing the units as vacation homes, said King, who is president and chief executive officer of Gadsden-based J.P. King Auction Company.

Gibraltar Luxury Water View Condominiums


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