Bid to Own the Land Underlying the Wichita Greyhound Park
PARK CITY, Kan., July 3, 2018 (Newswire.com) - Lange Real Estate will be auctioning off the area that once held the Wichita Greyhound Park. It contains two commercial properties which are owned by Sedgwick County. The 122.95 acres will be auctioned in two tracts on Tuesday, July 19 at 12:00 p.m., at the Sedgwick County Fire Station #32, located across the street south at 7750 Wild West Drive in Park City. “We are proud to represent Sedgwick County in the sale of what has been a popular and well-known property. It should generate some unique and interesting potential buyers,” said Jeff Lange of Lange Real Estate. Jeff went on to say that Park City is a very developer friendly community which adds to the investment opportunity for both properties.
The first tract is the commercially zoned land that the Wichita Greyhound Park is located on. It has an escalating lease that runs through 2039. Sedgwick County is selling the land only with lease rights. The lessee will own all the buildings and improvements and will be responsible for upkeep and all taxes. Current annual lease payment is $87,500. Starting Dec. 1, 2018, the annual lease payment goes to $91,000. The last 5 years of annual lease payment will be $101,500. Lease statements are sent monthly to Wichita Greyhound Park, Inc.
The second tract is 40.95 acres of transitional land, which is ready for development. Also commercially zoned, it has no leases and fronts I-135 highway. The property has one entrance from 77th Street North, very close to the I-135 exit, with rolling terrain and mature trees. “Considering tract 2 has no leases and has quick and easy access to 135, it definitely has potential for the right investor or developer. The visibility it offers from 135 is extremely valuable,” said Don Burford, who is representing the property for Lange Real Estate. Interested buyers in either property can contact Burford at Lange Real Estate at 316-529-3100 or go to https://langeauctions.net for more information.
Source: Lange Real Estate