The Eastern Star property is over 30,000 square feet in area and Brian Jacks at Jacks Commercial Real Estate has suggested that this has complicated attempts to lease the building in question. If the building is to be sold for a high price then a printing company in West Sacramento could be used to generate more awareness of the auction. However, Mr. Jacks has told the Sacramento Business Journal:
“We think there’s going to be plenty of interest.”
An opening bid has been established at $750,000. In addition, a reserve price has been set on a private basis. It has been revealed that if the reserve price is not met then the owner will continue to look for potential buyers or tenants after the auction.
The historic structure was constructed by a group of women who reportedly had a connection to the Masons. There were only three other similar buildings created and the Eastern Star is apparently the last of the four that remain standing.
While the building is up for auction, it has basically been taken away from the market. However, open houses have been agreed in the interim period. These events were designed to allow possible purchasers to inspect the property.