Bolich Building Update

From a News Release just sent out

Current Bid is $600,000, Tax Value is More than $1.7 Million

WINSTON-SALEM, N.C. (July 22, 2009) – On July 15, bidding started at $500,000 and has been upset twice for The Nash/Bolich Building at 616-636 West Fourth Street in downtown Winston-Salem.

The last day to upset the $600,000 bid is July 31, 2009. Upset bids must be at least 5 percent more than the standing bid. Each time the bid is upset starts a new 10-day period in which the new bid can be upset.

The sale of the Nash/Bolich Building was court-ordered to settle the estate of one of the owners, Mary Smithdeal,who passed away in 2007. The main floor of the building is 18,695 square feet, and the second floor is 16,980 square feet. There is also a 10,270 square foot building occupied byan auto repair garage. The building is home to 12 tenants; however, the second floor is mostly empty.

Wesley Bailey, the court-appointed commissioner, is selling the property pursuant to the official notice notice of sale in “as is” condition and subject to existing leases.

Copies of the official notice of sale, the court order appointing Bailey as commissioner and the existing leases can be obtained at http//www.bolichbuilding.com or by contacting Bailey at his Winston-Salem office located at 3069 Trenwest Drive, (336) 725-8366 (phone), or wbailey@baileyandthomaspa.com (e-mail).

For more detailed information and photographs, visit: http://www.bolichbuilding.com