Going once, going twice, SOLD! back to Chippewa Valley Bank of Wisconsin for $2.6 million.

That’s basically how the foreclosure auction went last week for Al Capone’s alleged 407-acre 1920s-era “hideout” in Couderay, Wisc., which was on the block after its previous owners defaulted on the mortgage.

Despite a Chicago-area advertising campaign (where Capone rose to fame and fortune more than 60 years ago as America’s most notorious gangster ever) to market the two-story stone lodge, it appears that no buyers were interested in plunking down bids.

Indeed, the bank that issued the $4.25 million mortgage back in 1959 officially repossessed and took ownership of the historic slice of backwoods real estate. There is currently no indication as to what will now happen to the property, according to a recent CNN.com report.

However, Leslie Strapon, assistant executive director of the Hayward Chamber of Commerce, holds out hope that it will remain a tourist destination.

Here’s a snip:

“Everyone is patiently waiting to see what’s going to happen with the place,” she said. “It would be nice if it fell into the hands of someone who was wiling to reopen and carry on the tradition [of hideout tours].”

We’ll keep you posted as soon as new details emerge regarding this unique listing on Foreclosure.com (click the link for pic and description).

America’s most notorious and best known gangster, Al Capone, is still making headlines in the Chicago newspapers more than 62 years after his death.

And it has nothing to do with illegal gambling, smuggling, bootlegging, prostitution or massacres.

Capone’s 407-acre 1920s-era “hideout” in Couderay, Wisc., which includes a 37-acre private lake located in the beautiful northwoods of “The Badger State,” is headed to the Sawyer County courthouse for a foreclosure auction set for 10:30 a.m. Oct. 8, 2009.

The minimum bid on the property — one of many that Capone used throughout the nation back in the day to “lay low” — is $2.6 million.

Here’s the official property description from Chippewa Valley Bank:

“Includes the original 1920’s main lodge of native fieldstone with massive split fieldstone fireplace, an eight-car garage renovated into a fabulous bar and restaurant, bunkhouse, year-round caretaker’s residence, guard tower along with other outbuildings and Capone’s unique ‘jail cell.’ Very private and pristine beautiful. There are many unique features to this property designed by the notorious gangster himself.”

Contents of the lake and whatever (or whoever) is possibly contained on the land — maybe even some legendary buried treasure — are also included.

For more information on Capone’s Wisconsin retreat click here and here.

Michael Jackson is not the only celebrity facing a possible foreclosure.

Three-time National Basketball Association (NBA) All-Star, Latrell Sprewell, is in danger of losing his half-million dollar home in River Hills, Wisconsin, according to USA Today. The report indicates that the former Golden State Warrior, New York Knick and Minnesota Timberwolve has not paid his $2,593 mortgage since September 2007.

Sprewell — who played 13 seasons in the league — earned an annual salary of $14.6 million in the final year of his career.

This is not the first time Sprewell is up against foreclosure. Last summer he defaulted on a $1.5 million yacht mortgage and lost the vessel at a public auction (it sold for $865,000).

It just goes to show once again that no one is immune to foreclosure — it can happen to anyone at anytime.

(Except for maybe Bill Gates and a handful of other zillionaires.)

Location: Dane County, Wisconsin
City: Madison
Price: $237,500
Zestimate: $268,000
Difference: $30,500

This three-bedroom, two bathroom contemporary home sits on less than a half-acre of land in the Ice Age Falls subdivision. It is conveniently situated within driving distance to major cities such as Milwaukee and Chicago, Ill. The two-story home is also adjacent to Park Greenway and bike path — perfect for children and young families!

Note: other comparable listings in this neighborhood range from $166,000 up to $270,500. For more property details or to speak with a local real estate agent/broker about this listing CLICK HERE.

To check out some of the other “Deals of the Day” feel free to visit our archive.

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