By Shereen Siewert
WAUSAU — As of Friday, the Wausau Center mall remains on a list of properties to be auctioned next week by the Marathon County Sheriff.
An order for foreclosure was filed June 5, according to Marathon County Circuit Court documents. The sheriff auction, which is a public auction of property repossessed by a mortgage lender, is set for 9 a.m. July 11.
“This is the first I’ve heard of it,” Mielke told Wausau Pilot & Review in June.
But Mielke, in a Friday morning radio interview, said he had been misquoted.
“I felt I was misquoted,” Mielke said in the interview. “I wasn’t aware the day that it was happening…but that’s part of that process, I guess, in facilities like that being sold or put up for auction. We’ll see what happens.”
Mielke also said in the interview the sale would not have an impact on the Micon Theater development.
“The theater, I’ve been assured, if you want to call it that, it’s coming, it’s just taking a little bit longer than we anticipated,” Mielke said.
Mielke also pointed out that the city does not have a financial say in what happens to the mall, even though the city owns the air above and the ground beneath the property.
The foreclosure order, signed by Circuit Judge Greg Huber, states that the premises cannot be sold in parcels but will be sold at public auction under the direction of the Marathon County Sheriff at a “time and manner provided by law.” The lender is free to bid on the property at auction but is not required to do so. Other bidders could also come forward.
If the lender does not win the auction, all proceeds from the sale will be applied to the amount due the lender, according to the order. As of May 30, the total amount due was listed as $18,922,717 including principal, interest, default interest and late penalties. Additional penalties are accruing daily.
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Updated, 4:42 p.m.
