Firm bids $3M for archdiocese chancery

Published 9:51 am Friday, April 8, 2016

ST. PAUL — Attorneys for the bankrupt Archdiocese of St. Paul and Minneapolis are asking a federal judge to approve an offer from a private company to buy its chancery.

A company managed by Premier Banks chairman Donald Regan has bid nearly $3.3 million for the property. That’s about $500,000 more than an offer from United Properties.

Paul Donovan is helping to sell the church properties and said if the sale goes through, proceeds so far would top $8 million.

Email newsletter signup

Minnesota Public Radio News reports once the chancery is sold, the archdiocese will have two more St. Paul properties to sell — a vacant lot and a two-story office building near the St. Paul Cathedral.