Potential bidders will be able to tour the property June 4, from 10 a.m. to 4 p.m., or by making an appointment with Dempsey Auction.
Lynn Dempsey of Dempsey Auction said the property is zoned Residential-Agricultural and would be a good site for residential development.
“You have such a regional market [near Cleveland] especially for a property like this … with a couple of the subdivisions and individual property owners that we have around this property. I can just not imagine a better place to build quality, really high dollar homes,” Dempsey said.
He said the entrance to the property makes it suited for development. The infrastructure of utilities, including sewer, to the site and its proximity to Interstate 75 also make it a good location.
The Hardwick Field property became surplus when the Cleveland Regional Jetport opened nearly a year and a half ago.
The former airport property has been divided into six pieces. This gives those with private hangars on the property a chance to bid on just that piece. Dempsey said if the smaller hangar owners are not the highest bidders, they will be required to remove their hangar from the property within 60 days.
The largest hangar, which was owned by the Cleveland Municipal Airport Authority, and the runway will be left on the site’s largest tract of land.
“It’s a good building. It’s a big, open space and I think someone could easily find a good use for that building,” Dempsey said of the hangar.
The separate sections of land will be auctioned first, and then if someone wants to vote on a combination of the sections they will have the opportunity. Dempsey said in order for a bid combining the properties to be considered, it must be a 5 percent increase over the total of the highest bids for those individual pieces of land.
Finally, the opportunity to bid on the entire site, all six pieces of land, will be offered. The bid would have to be a 5 percent increase over the total of previous bids. Dempsey said if such an offer is made, the bidding would continue.
The entire site with the hangar has been appraised at $1.875 million.
“This is not an absolute auction, which means they would have to sell it for whatever it brings. It is an auction with reserve of the seller, the Airport Authority has the right to accept or reject the final bid,” Dempsey said. “Hopefully, they will be able to give confirmation that day.”
The Federal Aviation Administration requires that the deed restrict the land from ever being used for another airport.
“I nor anyone who I’ve talked to yet is aware of an airport being sold at auction like this,” Dempsey said. “It’s very rare that an airport would change locations, because it is so hard to find a location suitable for an airport.”
However, the auction company has worked with various local governments to auction off surplus land.