Church/ School Complex on 13.43 Acres
LCNB Bank found itself in exactly this situation with a 13.43-acre property on busy Princeton-Glendale Road, formerly home to a large church and charter school campus. After the school failed, the bank needed a trusted partner capable of marketing the property broadly and achieving a fast, as-is sale of both the real estate and its contents.
13.43 Acres – Princeton-Glendale Road
Situation
The property consisted of 13.43 acres of commercial real estate occupied by a large institutional facility previously used as both a mega church and charter school.
For LCNB, holding the property meant ongoing carrying costs and uncertainty. The bank’s leadership needed a clear and efficient exit strategy, allowing the asset to be sold quickly without expensive renovations or prolonged negotiations.
In addition to the real estate itself, the facility contained state-of-the-art gym equipment and furnishings that also needed to be liquidated.
Solution
Worley Auctioneers developed a comprehensive marketing strategy designed to attract a wide range of buyers.
Rather than limiting outreach to religious organizations or schools, our team also targeted developers, investors, and commercial users, highlighting the property’s future redevelopment potential along the highly visible Princeton-Glendale Road corridor.
The campaign included:
- Large-format roadside signage generating strong local awareness
- High-impact postcard mailings to regional investors and developers
- Aggressive online advertising and digital marketing
- Targeted outreach to organizations and buyers seeking large institutional facilities
At the same time, Worley marketed the gym equipment and furnishings to both commercial gym operators and individual fitness buyers, maximizing the value of the contents.
Outcome
The auction generated strong buyer participation and culminated in intense competitive bidding during the final half hour of the sale.
The property ultimately sold to an out-of-state buyer from Worley’s nationwide bidder network.
Sold: $1,705,000
In addition, the auction produced nearly $70,000 in additional sales from the gym equipment and furnishings, maximizing the overall return for the bank.
Through the competitive auction process, LCNB was able to resolve the asset quickly and efficiently—eliminating ongoing holding costs while achieving a strong market-driven result.
Selling a Bank-Owned or Institutional Property?
Worley Auctioneers specializes in helping banks, institutions, and asset managers liquidate complex real estate efficiently through competitive auctions.
Our marketing reach and nationwide bidder network help connect properties with motivated buyers.
