HTX Real Estate 2013
A Game Of Real Estate Chicken

Houston high school for sale triggers a $40 million-plus bidding war: Who will blink first?

Houston high school for sale triggers a $40 million-plus bidding war

High School ForLaw Enforcement and Criminal Justice building and sign Houston
The bidding war has begun: Who will put in the highest offer for HISD's Law Enforcement & Criminal Justice High School campus?  Photo by WhisperToMe/Wikipedia

When the Houston Independent School District's High School for Law Enforcement & Criminal Justice went on the market after the 2012-13 school year, St. Thomas High School — which borders LECJ to the south — promised to make a "competitive bid" on the prime property. 

But The Leader reports that a mysterious, recently-formed private company has other plans for the 10.9-acre site. AV Dickson Street, LLC, which formed just days before the first bid deadline was due to HISD, put in a $40 million bid on the campus. 

That was the minimum offer requested by the school district on the property, which was last appraised for $26 million in the Harris County tax rolls.

An HISD representative told The Leader that St. Thomas officials countered with an offer of $40,000,100 in hopes of growing the size of the private, all-boys Catholic school's existing 17-acre campus. Yep, just $100 over AV Dickson Street's initial bid. 

And thus commences the war for the LECJ property. Offers for the second round of bidding are due to HISD by next Monday.