Vegas Block Apartment Building to Be Auctioned Off

The Vegas Block Apartment Building on North Main Street, a hornet’s nest of crime problems at the entrance to the city’s historic downtown, is being auctioned off later this month, according to documents posted online by James St. Jean Auctioneers.

The five-story brick building located at 154 N. Main St. has bottom floor retail space and 32 apartment units (28 one-bedroom units and four studio units). The building was constructed in 1870 and has been nicknamed "the Vegas block" because for many decades Vegas Pizza was located in the restaurant space now occupied by the Siam Orchid Restaurant, a Thai eatery. 

According to documents online, the holder of the mortgage of the building is foreclosing on Emil Halilovic, the owner of the building, for an unspecified amount of money.

The building is assessed at $1.737 million, according to the city’s online database. Taxes on the building are about $44,000 annually.

Halilovic reportedly bought the building in 2008 for $2.45 million, about what the city estimates it would cost to replace the building.

David Himelfarb of McCarter & English in Boston did not return an email seeking comment about the sale.

Auctioneers are looking for $100,000 cash deposit for all interested bidders with 10 percent of the bidding price within 10 days of the auction. The balance of the purchase price is due within a month of the sale.

Concord Police patrol officers as well as fire and rescue teams are sent to building on nearly a daily basis for various crimes and emergency services in the apartment building.