Watson And Heald Draws Interest
GRAND RAPIDS — A handful of interested parties showed up, but none placed a bid on the Watson & Heald Building last week. So the city adjourned the public auction and tentatively rescheduled it for 10 a.m. this Wednesday, July 25, at the east entrance of the Hall of Justice building at 333 Monroe NW.
A couple of potential bidders told the Business Journal that they remain interested in acquiring the 116-year-old structure at 101 South Division, but held off from bidding because they learned that a member of Breezewood Properties LLC had filed for bankruptcy protection last Tuesday, the day before the auction.
Breezewood Properties is a Kentwood firm that purchased the Watson & Heald from Terry Vanderschuur, a California resident, a few years ago.
The city took possession of the building after it won a recent foreclosure case in Circuit Court. After the owners failed to make promised improvements to the three-story building located in the Heartside Historic District, the city filed a demolition-by-neglect case against them, made the repairs and then billed the owners for the improvements.
The city is owed $144,920 for the structural repairs it made to the Watson & Heald. In addition, Fryling Construction Co. also is owed $86,785 for work the firm did on the building while under contract to Breezewood Properties.
Potential bidders should call either Assistant City Attorney Bernard Schaefer at 456-3181 or the law firm of McShane & Bowie PLC at 732-5000 to confirm whether or not the public auction will be held on Wednesday.