No auction winner for one of Fargo's most prized properties

Fargo, ND (WDAY TV) -- An auction of one of downtown Fargo's most prized properties came to an anti-climactic ending this morning.

The property owner said the highest bid was too low to accept.

There were seven bidders for the property on the southwest corner of Broadway and 1st Avenue North. Built in the 1890s, the Syndicate Block includes several businesses, office space and 17-studio apartments.

The highest bidder at one and a half million dollars was the Kilbourne Group.

The GM says he's disappointed a deal couldn't be made.

Mike Allmendinger with the Kilbourne Group says, "restaurants, beverages, those are all great additional businesses that could be in downtown Fargo and that's a building that's in the right location to see more of those projects."

Would-be buyers will receive letters from the auctioneer letting them know the price that would make a deal more likely.

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