Properties sold in Downtown Presque Isle
By Shannon Kornachuk
Special to The Star-Herald
PRESQUE ISLE — Three familiar properties in downtown Presque Isle went up for auction last week. Two of the three listings were retained by the mortgagee as bids received by Keenan Auction Company were insufficient.
Contributed photo/Shannon Kornachuk
THREADS TO BREADS at 157 State Street was one of three downtown properties up for auction. Owner Sherrie Theriault and volunteers Brianne, Keleya and Kamdynn Hardgrove stand outside their store.
The properties listed were 483 Main Street, 469-473 Main Street and 149-157 State Street. They are better known as the prior addresses of the Star City Café, the corner pawn shop and the current home of the Wintergreen Arts Center, respectively.
Madawaska-based NorState Federal Credit Union was the mortgage holder for both 483 Main Street and 149-157 State Street properties. The credit union placed the winning bid on both sites.
“Norstate was the high bidder,” said attorney Richard Currier, of Currier and Trask, “they did so to protect their mortgage but they don’t intend to do anything with them but sell the properties.”
483 Main Street was bought for $130,000 with back taxes from the last three years totaling $9,699.29. 149-157 State Street was purchased for $100,000. Taxes are also due from the past three years. 149 State Street taxes total $7,222.49. Taxes from 157 State Street total $11,637.
Both properties are already listed on the market and ready to be sold by Norstate. Currently the buildings are being run by a property manager that the credit union hired last fall.
469-473 Main Street was sold for $151,000 with back taxes from the past three years totaling $8,681.
“That property was sold to a third party,” said Stefan Keenan, of Keenan Auction Co. “It’s a local investor, we’re just not allowed to give out names until closing.”
Keenan Auction Co. estimated the closing of the sale to occur in two weeks’ time.
