A lot of lots in the Falling Waters subdivision in Porter Township sold at auction last month.
A single buyer purchased all 56 vacant lots at the Oct. 14 auction, said Kelsey Koomler, manager of farm and land sales at Kraft Auction Service.
The purchaser had already built 40 homes in the subdivision, she said.
There were other bidders in the auction, which was conducted both online and in person at The Hub NWI, Koomler said. “We strongly encouraged people to be in the room.”
Other bidders might buy lots from the winning bidder, she said.
The 56 vacant lots represent 28.9 acres. Originally, it was 71 platted lots, Koomler said, but some were combined.
“This was a lot different for me,” Koomler said. “That’s my wheelhouse for me, is farms.” Before joining Kraft, Koomler was a Realtor.
Falling Waters, on Porter County Road 100 South, has had a long history since the first house was built in 2003.
In 2014, developer Tony Floramo filed for bankruptcy, halting the sale of 249 undeveloped lots at a tax auction, according to Post-Tribune archives.
In 2017, new ownership was marketing lots ranging in size from a quarter acre to half an acre. An onerous conservancy district bill dropped to $200 a year from $2,206. A $10 million conservancy district bond had led to the higher amount.
In 2018, the Porter County Plan Commission rezoned lots to allow 28 cottage homes and a small clubhouse.
Last month’s auction of 56 lots still undeveloped is the latest chapter in that saga.
Doug Ross is a freelance reporter for the Post-Tribune.
