Nearly 500 acres of land, split into three sections, is for sale in Prior Lake.
The land near County Roads 42 and 21 belongs to the Vierling family. After 170 years, the barn that was located there was torn down in 2014.
The largest parcel at 320 acres is at County Roads 42 and 18, 120 acres at County Roads 42 and 21 and 55 acres on lower Prior Lake on 140th St. NE.
Gaughan Brokerage Real Estate Services is facilitating the sale of the land.
“I have had a lot of interest,” broker Tom Opsahl said. “We don’t have a purchase agreement or anything signed yet, but we’re basically trying to figure out how all the pieces fit together for different prospects.”
Though possible, Opsahl said it’s not likely the entire 495 acres will be sold to one developer.
“There will be a number of buyers... just looking at the people that have come to the table so far, it’s usually not for the entire piece,” Opsahl said. “People talk about that, but I doubt that’s going to happen.”
The 320-acre piece will require the most planning, Opsahl said.
“It’s really going to come down to a master planner who can kind of look at the whole piece comprehensively,” Opsahl said. “That takes a lot of time and thought and creativity and consultation with the city. A lot of research studies, really.”
With the growth in the area, Opsahl expects a residential component, as well as commercial. Over the next year, the future of the land will become clearer.
“So far, it’s been a combination of out-of-state and international-type investors, local investors and everything in between,” Opsahl said. “It’ll be really interesting to see over the next 12 months how it turns out.”
Opsahl said the price of the land is still under negotiation with interested buyers.