One bid for La Crosse’s Valley View Mall, which goes for about half its assessed value

There was one bid, the winning bid, and the Valley View Mall has been auctioned off.

The buyer, plaintiff Wells Fargo/Morgan Chase, represented by attorney Max Meckstroth of Foley and Lardner in Milwaukee, bid $13.2 million.

That’s about half its assessed $27 million value.

Close to a dozen spectators attended the sheriff’s sale in a courthouse hallway, although only Meckstroth submitted an actual bid to purchase the mall.

UW-La Crosse economics professor Adam Hoffer discussed some of the potential for Valley View Mall. Hoffer, on La Crosse Talk PM believes it needs some reimagining.

Most of the anchor stores were not part of the auction sale, including the old Sears, which is being converted into a Hy-Vee, as well as the old Macy’s and Herberger’s, which is now the River Valley VA Community Clinic.

Close to a dozen spectators attended the sheriff’s sale in a courthouse hallway, although only Meckstroth submitted an actual bid to purchase the mall.

A local businessman, Paul Weber, apparently wants to be a partner in the sale and revive the mall with new attractions. Weber offered $6 million for a stake in the purchase but it was not accepted, because he did not have the proper documents on hand.