This 390.5± Acre site is one of the largest contiguous available parcels within the City of Salem and its Urban Growth Boundary, perfect for master-planned redevelopment into single and/or multifamily housing and potentially employment center uses as well as public health and public service zoning uses. City of Salem is receptive to rezoning the property as described. Approximately 128.42± acres of the 390.5± acres is above the 100-year flood plain with great views and is ripe for redevelopment. The remaining 262.08± acres lies within the 100-year flood plain but large portions of it could be filled to provide additional land for development. Mill Creek bisects the site from north to south, providing a scenic corridor in the property for walking trails, cycling, recreation and wildlife study. Site is close to major Salem employment centers including the State Capitol, Amazon & Home Depot Distribution, Salem Health, Willamette University, Corbin University and Portland General Electric. Approximately 1 hour South of Portland and 1 hour North of Eugene. Phase 1 Environmental Assessment and Archeological/Historical Studies have been completed. Sealed bids can be emailed to Info@AuctionMillCreek.com and are due by Tuesday, August 2, 2022, with completed Bidding Package.

Co-Broker: Tim Stuart; Stuart Realty Group Inc.

Broker Lic. #: 990200191

Property Location:

5465 Turner Road SE, Salem, OR 97317

Suggested Opening Bid:

$7,000,000

Auction Location:

Email Sealed Bids to info@AuctionMillCreek.com

Auction Schedule:

Sealed Bids due Tuesday August 2, 2022 at 10:00 A.M. PDT.

Second Round of Bidding (at Seller’s option) to be Thursday, August 4, 2022 at 2PM PDT by telephone for up to the top 5 bidders

Real Estate Terms:

Bids must be emailed to info@AuctionMillCreek.com with completed Bidding Package and proof of Available Funds by Tuesday August 2, 2022 at 10:00 A.M. PDT

Second Round of Bidding (at Seller’s option) to be Thursday, August 4, 2022 at 2PM PDT by telephone for up to the top 5 bidders

Accepted High Bid – 10% non-refundable earnest money deposit due by no later than Friday, August 5, 2022 at 5:00PM PDT.

Balance due at Closing within 60 days of government approval.

NO BUYER PREMIUM.

Seller, maintains the option, to have a second round of bidding. Bidders will be required to submit with their bid a Proof of Available Funds Letter with their bid to prove they have the ability to close escrow at the price they’ve bid.