Niska North Lumber Mill

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Niska North was a lumber mill auction the North American Auctioneers held in 2018. 

Located in Chapleau Ontario, Niska North was about as far away as you could get from any airport in Ontario. It was one of those properties that no one seemed to be able to sell. With lumber prices stagnant over the previous 12 years and the US refusing to import our softwood lumber, making ends meet in the lumber business was a difficult proposition, hence this lumber mill was now in the possession on a large bankruptcy trustee in Toronto.

In the majority of cases, when a bankruptcy trustee takes possession of a property, they are able to simply post it on the market with your traditional Re
al Estate brokerage and within a year or so have it sold. This, however, was not the case for Niska North as there were too many obstacles in selling this property that no brokerage was able to surmount which included:

  • Difficult location for prospective purchasers to gain access to view
  • No environmental report
  • Property was being repeatedly broken into and vandalized
  • Most of the wiring and plumbing had been stolen
  • Short summer season and large snowfall in off season restricted access
  • Poor lumber market conditions

After a period of just under 4 years of no sale and no interested parties, this bankruptcy trustee brought in North American Auctioneers for a quick solution to a file that had been far too long on their desks.

As always, a North American Auctioneers Representative was on a plane to view the property within a few days and meet with the local Realtors. A marketing plan was completed for the property which was accepted by the trustee and we began our marketing campaign. North American Auctioneers marketing was focused on major markets in Ontario, and selected US cities and within 30 days we had a prospective buyer ask if they could purchase the property prior to auction. The offer was substantial enough that the trustee accepted the offer and the property auction did not have to move forward.

Mission accomplished. 

#NorthAmericanAuctioneers #NAA #RealEstateAuction #Auction #PropertyAuction #PropertyForSale #CommercialRealEstate #CommericalAuction #CommericalForSale  #NiskaLumberMill

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 AUTHOR’S NOTE:

Michael Marienwald is founder and president of North American Auctioneers, Broker of record for Anchor Realty and president of Mountain Realty. He is one of 4 Accredited Auctioneers of Real Estate in Canada, and a Certified Real Estate Auctioneer. Michael has been selling Real Estate conventionally and through auction throughout Canada since 1989 and has also taught Real Estate auctioning at the Ontario School of Auctioneering. 


Location: London, ON, Canada

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