TCF National Bank paid $7.01 million in a sheriff's sale for three Crosslake vacation homes belonging to bankrupt auto mogul Denny Hecker, the Crow Wing County Sheriff's Office said Tuesday.
Meanwhile, a large stash of Hecker's cars, boats, golf carts, and other luxury items were auctioned Tuesday evening by Fred W. Radde & Sons in New Germany, Minn.
The sale of the Crosslake property foiled Hecker's second effort to move to there.
Hecker, who is awaiting trial on fraud and other charges, last week asked a judge for permission to move to Crosslake as his current residence in Medina faces foreclosure. His attorney, Brian Toder, withdrew that request Tuesday afternoon.
TCF, the sole bidder at the sheriff's sale, had held a $7.2 million mortgage on the property. The Crosslake property contains at least three parcels of land with homes currently valued at $8.7 million, $1.27 million and $1.29 million.
Two adjacent parcels of land totaling 3.2 acres are still listed by Crow Wing County as held by Hecker's limited liability company Jacob Holdings. Hecker bought the lots in 2006. It is not immediately clear whether those properties are included in TCF's bid.
TCF's purchase kicks off a six-month "period of redemption" in which TCF is prohibited by law from selling the property or evicting Hecker, said Crow Wing Chief Deputy Debbie Backdahl.
Hecker had been allowing former employee James Gustafson and his wife to stay at the Crosslake residence.