12/18/2009

UCG Headquarters Is For Sale

The UCG new HQ property purchased in 1998 under Clyde Kilough (UCG cost: $1,599,784, or $19,610 per acre with an appraised value of $1,710,000) has been listed for sale as follows:

Price:
$2,239,875
Lot Size: 81.45 AC
918 Milam, FM 3163, Lantana, TX 76226
* Property Type:
Land
* Property Sub-type:
Residential (land)
* Find Out More...
Last Verified 12/10/2009 Listing ID 16463886
1 Lot Available
Lot 1
* Lot Type:
Residential (land)
* South Side of Milam Road, East of I-35

Description
1,060 Feet of Frontage on Milam Road; Zoned: Agricultural (Denton ETJ); includes house

One of the highest spots in N. Denton County, beautiful views
Map of 918 (Milam) FM 3163, Lantana, TX 76226 (Denton County)
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Contact Listing Broker to find out more details.

Source Link: LoopNet Commercial Real Estate
Related Post: HQ Property Photos
Related Post: UCG's 1.6 Million Dollar Deal

8 comments:

Anonymous said...

So Clyde throws in the towel and sells the property that the tithe payers money was wasted on. He did not inform the sheep that he was buying the property, and now the sheep are not informed of the property be placed on the market. Another sneak action by the UCG hirelings.

Richard said...

Are you sure it was 1998? I was told the land was scouted and purchased in 2007.

Stan said...

From a previous post: As Clyde Kilough informs in United News:

The 81.5-acre parcel north of Denton considered a "very good value" at $1.6 million. Closing likely in early January. Further discussions of development plans set for December Council meetings.

Richard, if the above time line is correct, having scouted around for the second Denton area property, the UCG closing would have occurred in early January, 2008.

The first poster may not have noticed the initial listing ask for price is for far more than what the UCG paid for the property. It is a valuable piece of real estate just off a major highway sure to be developed when conditions warrant.

The HQ sale listing is taken from uncensored reports of COE meetings. To be fair, not exactly a "sneak action" IMHO.

At least this is far more public information gleaned from open sessions of the UCG COE, rather than from Joe Tkach's WCG-GCI secretly held elder board meetings, the agenda and actions for which he ungracefully continues to refuse to publish.

Stan

Questeruk said...

So in Jan 2008 UCG paid $1.6 for the property, and less than two years later it is on the market at $2.24.

If it should sell at that price, that’s a 40% profit in less than two years. Considering the way property has been going these last two years that is a pretty astute investment.

Wish my investments were grossing 20% increase during the last two years!

Stan said...

Questeruk,

Given the downturn in commercial real estate investment, it might pay UCG to hold on to the property until the market definitely heats up again.

A present value comparison should be made between the long-term renovation costs and potential sales value of the present Ohio property versus the property in Texas.

Stan

Bamboo_bends said...

Questeruk said...

So in Jan 2008 UCG paid $1.6 for the property, and less than two years later it is on the market at $2.24.

Questeruk said:
If it should sell at that price, that’s a 40% profit in less than two years. Considering the way property has been going these last two years that is a pretty astute investment.

Wish my investments were grossing 20% increase during the last two years!


If they can get it. These churches seem to always sell into a down market.

Check out the pent up foreclosure map state by state.

Commercial real estate is being hit hard.

Anonymous said...

Did all of the posters in Clydes A-MEN corner forget that UCG also poured in $500,000 for improvements on the Denton property?

So much for the 40% profit...they barely break even.

Questeruk said...

‘Did all of the posters in Clydes A-MEN corner forget that UCG also poured in $500,000 for improvements on the Denton property?’

Pointing out a mathematical figure is pointing out a fact. It has no relevance as to support or not of anyone.

‘Facts is facts!’

And, no, obviously I did not include a $500,000. But were any improvements made? Was that money spent, or just budgeted? Maybe you can tell us?