Cougar Island in Payette Lake is set to be auctioned off at a live auction September 14, 2022 taking place at the Water’s Edge Event Center at 287 E. Shore Drive in Eagle, ID at 1:30pm. Remote bidding will be available.
The Island has 5 lots, with one having an existing house on the lot. The entire 14.21 acre Island will come up first for bid at a total minimum bid of $8,770,000 to be paid to the State of Idaho. In addition, you also must agree to pay the current lease-holder of the lot with the existing home, the appraised value of the home at $1,565,000 plus sale costs that total $1,588,250.00 for a total of $10,358,250. This is the Minimum Bid, and reserves will be required.
If the bid for the entire Island does not meet the required minimum amount at the auction, then the State will auction each of the 5 lots separately.
There has been significant controversy surrounding this auction by the Idaho Department of Lands, with both the County and City of McCall asking the State to not auction the property and keep as a public property for all to enjoy.
The State has turned down these requests and will be moving forward with the auction this September 14th in Eagle, ID. The auction will also be the first State auction that will allow on-line auction in addition to in-person.