On behalf of Lang Law Office posted in Real Estate Transactions on Wednesday, November 30, 2016.
Four Minnesota real estate properties that Prince owned were put up for sale in mid-November, with two more expected to be put on the market soon. All four of the properties are situated in Chanhassen. One of them, where the deceased musician lived at one time, is a 5,654 square-foot property situated on a 1.5-acre plot of land.
One of the properties has not been built yet. It is a $1.68 million home on Lake Riley. Prince used to live in a home on the property, which he later had torn down in order to build the new property, which will have five bedrooms and five bathrooms, along with an indoor game room, theater and sports court.
Next door to this home is yet another undeveloped piece of land, which is listed with a value of $925,000. It will have four bedrooms and three bathrooms, along with a full bar, game room and exercise room. Unlike the first home, the second home does not have a view of Lake Riley.
The third property is also unbuilt, and it has been put on the market for $599,999. It will be a two-story, four bedroom, four bathroom home. The fourth property is a two bedroom, two bathroom home being sold for $299,999.
According to his attorney, Prince owned multiple residential properties in the Twin Cities area. The four properties that have been put on the market, and the two properties to be put on the market later, were recently allowed to be sold by the judge presiding over Prince’s estate proceedings.
No matter what kind of real estate transaction one is dealing with, Minnesota residents may want to obtain the services of an experienced real estate attorney when finalizing the terms.
Source: Minneapolis/St.. Paul Business Journal, “Four Minnesota properties owned by Prince hit the market,” Nick Williams, Nov. 21, 2016