The biggest white elephant in McHenry County now has a new owner, although its identity has not been made public.
The high bid in an online auction was $9.3 million.
There was a bit of a bidding war, as the price went up from $7.7 to $9.3 over 20 min or so.
The auction house had an interesting feature.
Any bid in the last 4 minutes added on 4 minutes to the auction time.
At least two bids came in less than 10 seconds.
You bid on a multi million dollar complex like it’s a DVD on ebay?
The 4 minute add on for any bid in the last 4 minutes of the auction is an attempt to counter sniping.
Good news.
It was purchased to be utilized.
I assume that means more jobs, tax revenue, and revitalization in Harvard.