LORAIN — No bids were submitted in a Wednesday sheriff’s sale for nine foreclosed lots on Bascule Drive.
The vacant lots are in the 300 and 400 blocks of Bascule off East Erie and Colorado avenues. The properties are owned by Grant Entertainment LLC, a limited liability company.
Limited liability company members have little personal liability if the company has debts. Grant Entertainment members didn’t return calls Wednesday.
The company is being sued by the Harbor Walk Community Association, which is responsible for property upkeep, according to Lorain County Common Pleas Court documents. Grant owes the association $15,650 in assessments and $5,687 in attorneys fees, according to the documents.
Attorney John Monroe, who represents the association, said the properties were appraised at $90,000. By law, bids are offered at two-thirds of the appraised value. The earliest the next sale could occur is Aug. 6.
Monroe said he hopes another appraisal at a lower value is done to encourage bids. “Clearly, the marketplace didn’t feel they were worth the minimum bid,” he said.
Contact Evan Goodenow at 329-7129 or firstname.lastname@example.org.