SACO — The mill property known as Building 3 at Saco Island is scheduled for auction Dec. 30, according to Tranzon, which has set the event for 1 p.m. on site that day.

The 4.39-acre property at 100 Main St. includes a four-story mill building constructed in 1835 and has 27 units — the popular Run of the Mill Public House and Brewery, an unfinished office space and 25 studio apartments. Its assessed value by the city of Saco at $2.2 million.

An auction had previously been scheduled for December 2019 but was postponed until February, when it was cancelled.

“We’re getting a tremendous response, ” said Tranzon’s Michael Carey of the foreclosure auction. “The market is still very active for quality assets through traditional brokerage or auction, and with interest rates still low, people are looking.”

And, he said, the Biddeford Saco market area is hot.

The 25 studio apartments fill a niche for single people, seniors, those looking to downsize and others, he said.

“It’s been a really successful model,” said Carey.

Annual taxes are around $43,000, according to information contained in the auction packet.

The property is owned by The ROTM Lofts, LLC.

Sam Zaitlin is among the owners of The ROTM Lofts LLC. Reached Monday, he said he wasn’t at liberty to speak to the matter in detail, but indicated the ownership was “not just waiting around” for the auction to transpire.

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