Friday, August 14, is Last Day to Upset Current Bid on Landmark Nash/Bolich Building

Aug. 13, 2009 - PRLog -- WINSTON-SALEM, N.C. – Friday, August 14, is the last day to upset the current bid of $800,000 for the Nash/Bolich Building, a downtown Winston-Salem landmark. The current bid for the building, located at 616-636 West Fourth Street, is less than half of the building’s property tax value of $1,745,200.

The bidding started at $500,000 on July 15 and has been upset several times. The current bid is $800,000. Upset bids must be at least 5 percent more than the standing bid. Each time the bid is upset starts a new 10-day period in which the new bid can be upset.

The sale of the Nash/Bolich Building was court-ordered to settle the estate of one of the owners, Mary Smithdeal, who passed away in 2007. The main floor of the building is 18,695 square feet, and the second floor is 16,980 square feet. There is also a 10,270 square foot building occupied by an auto repair garage. The building is home to 12 tenants; however, the second floor is mostly empty.

Wesley Bailey, the court-appointed commissioner, is selling the property pursuant to the official notice notice of sale in “as is” condition and subject to existing leases.

Copies of the official notice of sale, the court order appointing Bailey as commissioner and the existing leases can be obtained at http//www.bolichbuilding.com or by contacting Bailey at his Winston-Salem office located at 3069 Trenwest Drive, (336) 725-8366 (phone), or wbailey@baileyandthomaspa.com (e-mail).

For more detailed information and photographs, visit: http//www.bolichbuilding.com.

About the Building

Originally constructed by J.A. (Lou) Bolich, Jr., the Nash/Bolich Building has been in the Smithdeal family since the 1940s when it was purchased at a foreclosure sale by family members, including John F. Smithdeal, a Winston-Salem business and civic leader,

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LMW Media Relations and Marketing is marketing and public relations company based in Winston-Salem, N.C.