Priest Lake Cabin Site Auction Nets $4.2 Million 

click to enlarge Priest Lake
  • Priest Lake

As the State of Idaho continues to divest itself of the business of leasing valuable lakefront property to Gem State cabin owners, nine more lots at northern Idaho's Priest Lake were put on the auction block Sept. 26. When the day was done, $4.25 million had been added to the state public education endowment fund. Only one of the nine lots received no bids and did not sell.

Officials with the Idaho Department of Lands say none of the current cabin owners made bids on the lots, but they did agree to sell their cabins to the winning bidders of the land parcels. Officials said two of the eight lots sold received competitive bids, driving up the bids $289,000 more than the appraised value of the lots. 

To date, Idaho has sold off 169 lots, generating more than $71 million for the endowment funds supporting public schools. The next auction is set for Friday, Nov.13, in Boise when more than 20 lots along McCall's Payette Lake will go up for auction.
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Mike Rosenthal

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