The Idaho Department of Lands (IDL) will auction eight state endowment owned lots on Priest Lake appraised at $10,878,720 for deeded ownership during a public, oral auction at 10:30 a.m. Saturday, September 21, at the Best Western – CDA Inn, 506 W Appleway Avenue, Coeur d Alene.
All lots are under lease with cabins on them. The land is held in trust by IDL for Public Schools beneficiaries, but the cabins and other improvements on the land are owned by the leaseholders as personal property.
The current leaseholders applied to participate in the auction. If the high bid is from someone other than the current leaseholder, the winning bidder must pay the leaseholder the appraised value of the home and personal property on the land at the time of the auction.
The Idaho Constitution requires a public auction for the sale of endowment lands managed by the State Board of Land Commissioners (Land Board) and IDL. The Land Board previously voted to auction the lots over time instead of continuing to lease them.
More information and photos of the properties for auction can be found here. The properties being sold, all in Coolin, are located at:
- 150 Bull Trout Road
- 24 N Mackinaw Road
- 3373 Cape Horn Road
- 126 Cutthroat Road
- 18 N Two Creeks Road
- 1157 Camp Cudge Road
- 86 Indian Creek Road
- 102 Rosalia Bay Road