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June 2012
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Keiler properties sell at auction

BY LAUREN P. DUNCAN lduncan@paducahsun.com

Some bidders may have snagged deals at an auction of Paducah land Thursday night.

Robert Alexander Real Estate and Auction Company conducted an absolute auction of 41 tracts at Whaler's Catch French Quarter. The property was owned by the heirs and associates of the late Jack Keiler, a developer and theater owner.

Alexander was chosen by Jack Keiler's son, Steve Keiler of Paducah, to host the auction. Alexander called for a moment of silence before the event began in recognition of the family's history associated with Paducah.

The properties are owned by 16 people who live across the country.

The 41 tracts were divided into five separate auctions. The first began shortly after 5 p.m., when 25 acres near Interstate 24 and McBride Lane near Kentucky Oaks Mall went up for sale. Alexander threw out a number of $1 million at first. The property sold for $350,000.

Next for sale were properties at Magnolia Village, a commercial subdivision of eight tracts near the corner of Lone Oak Road and Friendship Road. Bidders could vie for the tracts individually, in a combination, or collectively. Some bidders proposed $17,500 a lot, but the highest bid went for all eight tracts combined at $160,000.

Next was about 16 acres in the I-24 Business Loop on Wayne Sullivan Drive. The property sold for $160,000.

Two smaller tracts on Wayne Sullivan Drive sold for $60,000 each.

The 29 Pines Subdivision tracts began with some early bids between $5,000 for one lot to $87,500 for a combination of tracts.

Bids were made at Whaler's Catch and online, and Alexander also had callers.

"Some good bargains were had," Steve Keiler said.

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