The state has sold the remaining portion of a former juvenile detention campus near Custer.
A realtor representing local bidders submitted the winning bid of $1.325 million.
State School and Public Lands Commissioner Ryan Brunner said the bidders will announce their identity and intentions soon.
Brunner said the bidders paid 10 percent down, and the rest is due in 60 days at closing. He said the bidders provided letters of credit from a bank.
“We’re pretty confident we’ll be able to close the transaction,” Brunner said.
A previous sale of the property fell apart. The state sold the STAR Academy campus three years ago on a payment plan, but the buyer missed payments and the state repossessed the property.
Then state officials split the campus into two parcels. Forty undeveloped acres sold last fall for $320,000. Friday’s sale included the remaining 133 acres and numerous buildings.
There is a bill pending in the Legislature that would appropriate $1.74 million to demolish buildings on the campus. Brunner predicted the legislation will be set aside now that the property has sold.