Daugherty Auctions of Adel was in charge of the selling of 1203 Second Street in downtown Perry at a public auction Tuesday.
A crowd of approximately 50 gathered to bid and observe as the three-story, 24,000 square foot building (currently home of Stitches in Time antiques) went up for sale. The building, erected in 1899 and currently placed on the National Register of Historic Buildings and includes the former Mandarin Cafe site, as well as 15 one-bedroom apartments and two large offices on the second floor.
Only a handful of bidders were involved, with the bidding halted for a small break after reaching $45,000. When the auction resumed, the top bid reached $46,000, where it stayed.
As this was not at the minimum asked by the owners, bidding was halted and the high bidder (name withheld) was asked to meet with the broker Mike Brobst of North River Realty to try and negotiate a final price.
Chad Daugherty, son of owner Kelly, said it may take 24-48 hours for negotiations to be concluded. ThePerryNews.com will update this story as more information becomes available.