Lake Geneva IRS Auction

Lake Geneva IRS Auction

Lake Geneva IRS Auction

There are just two houses that get their own chapter in the book of Curry Family Lore. One of those houses is the obvious house, that old dutch colonial pressed against the lake at the end of that hill just to the north of Conference Point. That house deserves the greatest mention as the house that shaped my family and became part of who we all are. Such a rare treat it is to live a life with a house of such importance. The other house isn’t one that my family owned, it’s one we almost owned.

Or did we? Could it be that the story my dad told for all of those years wasn’t entirely true? Did he actually almost buy the blue and white lakefront house at 619 Cedar Point Drive? The one with the big lawn and the gated entrance, the one that he said was bought out from under him? Was it almost my dad who split that lot in half and sold off the vacant part, only to be left with an astounding good deal on the remaining piece that hosted that blue and white shingled home? Or was this story one that embellished a thought of miss as a near miss, something that was considered but never given a chance to actually manifest? I suppose I could ask my dad for the details, but since these events unfolded forty or so years ago we’ll have to admit there is some truth to the stories, but just how much no one can be sure.

This old house on the eastern side of Cedar Point has been on my personal radar for my entire life, and on my business radar for at least the past ten years. The prior owner was in some IRS trouble and the house was seized. The owner was sent away to do time, and the owner’s wife contested the IRS seizure of their lake house. Knowing this, I wormed my way into conversations with the IRS and DOJ as I attempted to insert a cash buyer into the mix. The offer was presented and for a considerable period of time I had some reasonable expectation that this was going to work. I was going to sell the house that everyone was wondering about. I was going to seek revenge against this house on behalf of my father, who was, as usual, a day late and many dollars short. But the deal didn’t work and in spite of my best efforts I was unsuccessful in prying this home from the processes required by law.

I was given notice earlier this year, by a kind gentlemen whom I had been working with at the Federal level, that the home was finally going to be sold. The owner of record is now The United States Of America, which means we all technically sort of own it already… Unfortunately for me, the property would need to be sold at auction. While the date is not yet known, it will be sometime later this year. And that begs the question: How much will the house sell for and how can I buy it?

This question will be floating around the lake all year, at least right up until the IRS auction. There are buyers hinting that they will be able to buy the house for $2M. Or $3M. Or $1.75M. All of these wishes will be dashed. The property, with 200+ feet of delightful north shore frontage and more than 3 acres in land mass, will sell north of $6M. I absolutely dread the thought of a developer buying it and slicing it up into three or four or five lakefront parcels. I’m dismayed by the builders who call this area home who seek to exploit the lakefront for their own fleeting profit. It’s a disgusting practice that has played out again and again, and I wish these players would do what’s best for the market rather than what’s best for their wallets. Alas, not everyone has aims at leaving behind a noble legacy.

If you’re a buyer for this sort of property and would like to discuss it further, you know how to find me.

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