WEST LINN, Ore., Oct. 26, 2021 /PRNewswire/ — This Saturday, October 30, a unique property in Oregon’s Willamette Valley region that recently asked $38 million will be offered for sale at luxury auction® featuring a live, real-time bidding process. The auction is being managed by Miami-based Platinum Luxury Auctions in cooperation with listing brokerage of record Luxe Christie’s International Real Estate in Lake Oswego, Oregon. A reserve price of $3.25 million means the highest bidder who meets or exceeds that amount will be the property’s new owner on Saturday. Those buyers with interest in bidding must register with Platinum by a deadline of 5:00pm PT on Friday, October 29.
Sprawling, Pacific Northwest Mansion on 32 Waterfront Acres Readies for Luxury Auction® Oct 30
Bestowed with the name Pacific Place by its current owners, the West Linn property boasts attributes that make it truly unique in the realm of Willamette Valley luxury properties. For starters, its 32-acre lot is a rare, peninsular (or “point lot”) shape, creating 2,700 feet of frontage on the Willamette River. This frontage includes areas of sandy shoreline, perfect for waterside recreation or relaxing. The property’s residence is also sited in a “grandfathered in” position that is much closer to the water than permitted under applicable zoning rules, making the property quite literally irreproducible.
Pacific Place’s residential structure – a sprawling, tri-level estate of approx. 50,000 square feet – was built by highly regarded homebuilder Tom Avgerakis, a leader in the build of luxurious homes throughout the pacific northwest. Avgerakis and his team completed initial development of the property parcel and framework construction of the residence in the late 1990’s, under the employ of its then-owner.
That owner’s plans then changed, leaving the house’s construction in intermediate stage where it has remained to date. Though still incomplete, the total investment in the property to date – across its three owners – has reached $20 million, according to Trayor Lesnock, Platinum’s founder and president.
“A tremendous amount of capital was deployed to ensure the residence was engineered and built to last several lifetimes. I’ve never seen anything like it,” Lesnock stated, in reference to the impressive condition of Avgerakis’s structural work. “It looks like it was built within the past 2-3 years.”
Lesnock explained that the property’s recent, $38 million asking price was designed to account for the completion of the residence per the updated specs of the current owners, who retained renowned architect Richard Luke in mid-2021 to produce a refreshed design …….