Diversified Partners LLC and Fancy Sauce LLC have purchased a portion of the Portland Elks Lodge for $1,250,000. The entire property included a 23,090± SF lodge building on nearly 7 acres at 1945 Congress Street. Portland Lodge #188 BPOE of USA was the seller. In a unique sale arrangement, the purchasers formed a three property condominium and acquired the development rights to the excess land on two of the condo units, while also reducing the Elks Lodge to 13,500+/- square feet and leaving the Elks Lodge in place, in soon to be renovated building. The property went under contract in 2014 and closed April 20, 2017, after a long permitting process.
Northland Enterprises will be developing the property into offices for Clark Insurance and a medical office building. The lodge building will also be completely renovated for the Elks #188 Lodge.
Mark Malone, CCIM of Malone Commercial Brokers represented the Elks Lodge and Greg Boulos of CBRE/The Boulos Co. represented the buyers in the sale transaction. Portland Press Herald 4/26/2017