The Portland Elks Lodge on Congress Street is expected to be redeveloped into a mixed-use complex, which includes a smaller but wholly renovated lodge.
Malone Commercial Brokers said Wednesday that the Elks organization has sold a portion of its property at 1945 Congress St. to Diversified Partners LLC and Fancy Sauce LLC for $1.25 million.
The entire property contains a 23,090-square-foot lodge building and 7 acres. After the renovation, the Elks Lodge 188 will have an updated, 13,500-square-foot lodge.
Northland Enterprises will develop the other property into offices for Clark Insurance and a medical office building, according to the release.
The property went under contract in 2014 and closed this year on April 20 after a long permitting process. In September, the Portland Planning Board approved plans for the project following a zoning change earlier in the year that some residents in the city’s Stroudwater neighborhood opposed.
Mark Malone of Malone Commercial Brokers represented the Elks Lodge and Greg Boulos of CBRE | The Boulos Co. represented the buyers in the transaction.
The project will give Elks Lodge 188 an updated, 13,500-square-foot lodge.
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