WILLIAMSON COUNTY, IL (WSIL) -- The city of Herrin is selling a piece of land it’s owned for decades.
"It has some nice little features for being out in the middle of nowhere that make it very attractive," said Herrin mayor Steve Frattini.
The city recently placed Herrin Lake No. 2 up for sale. Sealed bids will be accepted until 4 PM on Dec. 27. All bids must start at $1.2 million. Mayor Frattini says those bids will be opened that night at the city council meeting.
“For those that meet the minimum qualification of the 1.2 million dollar bid, if there is more than one, they'll be able to enter into an auction live right there on the spot," Frattini said.
Mayor Frattini is optimistic the city will receive at least one bid that meets the requirements. He says � the $1.2 million price tag is well within market value.
“What makes it unique is the lake and the size and quality of it as compared to rural real estate type transactions," Frattini said. "It's priced above some others comparably, but when you throw the lake factor in there, that changes the whole dynamics of it."
Selling the land is bittersweet for Frattini, who has fond memories of fishing and hiking in the area. But he says selling the property will benefit the city greatly.
“Whenever I first became mayor, we had zero operating reserves," Frattini said. "With the sale of the lake the intent of the proceeds is to go into the capital operating reserves of the city."
The property takes up about 267 acres of land in Williamson County. Of that, the lake makes up around 60 acres of that.
“For use-wise, there are some different directions for potential development residential or otherwise and recreational purposes and there could be some commercial type like a retreat facility for a major corporation," said Frattini.
