Longaberger Basket Building On Edge Of Foreclosure
The iconic Longaberger basket building is reportedly behind on property taxes and facing foreclosure. If the company does not pay back about 600,000 dollars in property taxes during the upcoming weeks, officials have indicated that the old headquarters in Newark, Ohio will be referred to tax foreclosure.
The Longaberger company specializes in handcrafted baskets and was founded by Dave Longaberger in 1973. Since opening, the company has also distributed a wide variety of home items and lifestyle amenities. The Longaberger basket building was built in 1997 and is still a worldly recognized building due to its architecture and shape. Around the beginning of 2015, the company decide to relocate and combine all employees at another corporate location.
The basket building has been on the sales market for at least a year and a half now since all the employees were relocated. The building is over 175,000 square feet and has dropped its price over two million dollars since starting the sale with a 7.5 million dollar price tag. The inside is a luxurious and modern office space that does not resemble a basket, but buyers still seemed turned away to make a purchase.
The company’s tax issues began in late 2014. If taxes are not paid soon, the county can foreclose on the property and submit it to a foreclosure auction. The property might even become a sheriff sale. The basket building could end up selling at auction for a fraction of what a normal sale would bring.