LAKE ST. LOUIS, MO (KMOX)-The nearly $27 million unfinished Lake St. Louis mansion owned by one of US. Fidelis’ former owners, has been sold…
For $4.75 million.
A couple, who real-estate agent Kevin Cottrell describes as a “business owner and his wife”, submitted the only official bid before Monday evening’s deadline passed.
A federal bankruptcy judge is expected to approve that bid Wednesday morning.
The attorney for US Fidelis’ unsecured creditors, David Warfield, says they had hoped to get more from Darain Atkinson’s home, “But it’s important to remember that this still will be the most expensive home ever sold in St. Charles County by almost 50%. The fact of the matter is that Atkinsons spent far too much money on this house for this location.”
And Cottrell says it still requires up to $4 million in retrofitting and repairs, “Probably the most visible example….is the hardwood floors. They’re such that they have to be completely redone. They weren’t actually completed correctly. There’s an indoor pool and a basketball sport court area, those are examples of areas that weren’t completed at all.”
Cottrell says the couple are longtime residents of the St. Louis area who plan to move in the spring, and live in the home long-term.
He says they don’t want their names released now because of the negative publicity surrounding US Fidelis. He says when we find out who it is, the husband and wife will be names we haven’t heard before.
He says they realize there will be publicity when their names are released and they’ve talked about doing some charity events or other things to help people in the community.
The funds from the sale will be used to help pay off Darian and Corey Atkinson’s creditors. The Atkinson’s homes at the Lake of the Ozarks and at Lake Tahoe will be auctioned off in December and January.
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