Hilco Global Announces Bankruptcy Sale of New Multifamily Building in South Dakota
New Multifamily Building Available for Auction
In an exciting development for real estate investors, Hilco Global has announced the upcoming sale of a newly constructed multifamily building located in Watertown, South Dakota. The announcement comes in collaboration with NAI Sioux Falls, marking an important opportunity in the local real estate market. The property is set to be sold due to Chapter 7 bankruptcy, with bids closing on April 16, 2026.
Property Specifications
The multifamily building, situated at 315 E. Kemp Avenue, boasts 63 residential units and is approximately 90% complete. Designed with modern living in mind, the property is ideally located near key amenities including restaurants, fitness centers, and parks. This strategic positioning adds significant appeal for potential residents and investors alike.
As stated by Jonathan Cuticelli, director at Hilco Global, “This property represents a unique opportunity to acquire a nearly completed multifamily asset in a stable and growing Midwestern market.” The potential for finishing construction and delivering much-needed residential inventory illustrates the demand in the rapidly growing Watertown area.
Economic Landscape of Watertown
Watertown serves as a major economic hub in northeastern South Dakota, boasting a diverse employment base that includes sectors such as manufacturing, healthcare, education, and financial services. Notable employers in the region comprise Prairie Lakes Healthcare System, Terex Utilities, Worthington Industries, and Premier Bankcard, as well as the Watertown School District.
With a population nearing 23,000 and more than 12,000 jobs supported across various industries, Watertown's economic status underscores the significant demand for housing. The city has continually shown robust growth in both population and employment, proving itself as a viable market for real estate investments.
The Sale Process
The sale is subject to approval by the United States Bankruptcy Court for the District of South Dakota, Fargo Division. To participate in the bidding process, interested parties are required to submit their bids on the Purchase and Sale Agreement (PSA) document. Bids must be submitted by 5:00 PM (CT) on April 16, 2026.
Potential bidders are encouraged to contact Jonathan Cuticelli directly at (203) 561-8737 or via email at email protected] for further information and to review the necessary documentation regarding the auction. Additional details and due diligence documents can be found on Hilco Real Estate Sales' website: [HilcoRealEstateSales.com.
About Hilco Global
Hilco Global, a leading financial services firm, specializes in providing integrated professional services and capital solutions designed to maximize value in various sectors including retail, manufacturing, and commercial real estate. With over 810 professionals operating worldwide, the company is committed to delivering exceptional results tailored to meet the unique needs of its clients. For more details about Hilco Global and its offerings, visit hilcoglobal.com.
This newly constructed multifamily building presents a prime investment opportunity in a vibrant market. With the deadline approaching, interested bidders should act swiftly to capitalize on this unique sale.
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