Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Bank OKs sale of former Jimmy Jam house to mystery buyers

Posted by: Jim Buchta under Foreclosures Updated: March 5, 2014 - 12:56 PM

After years of legal limbo and rumors about its fate, the unusual 22,000 square-foot house built by Jimmy "Jam" Harris is one step closer to a new beginning. Several weeks after a live auction that elicited multiple bids, JPMorgan Chase approved the winning bid of $2.6 million. Harris sold the Minnetrista house to Christopher and Sandra Hintz for $7 million in 2007 and soon after they stopped making their payments. The house, which is on 2.5 acres and is on Lake Minnetonka, went through the foreclosure process and had recently been on the market for several months for $4.49 million.

Listing agent, Scott Stabeck of Lakes Sotheby's International Realty in Wayzata, said that while he won't reveal the identity of the buyers, he said they plan to move into the house and fix it up as necessary. The deal is expected to close within 30 days.

Here's a link to a story about the auction and a link to a video tour of the house.

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