Auction dates set for surplus Fayette County Public Schools properties

05 Oct, 2026 - Tranzon Asset Advisors

As seen on WKYT

LEXINGTON, Ky. (WKYT) - Auction dates have been set for four surplus Fayette County Public Schools properties in Lexington.

According to a press release from Tranzon Asset Advisors and Schrader Commercial Properties, the firms have been commissioned by FCPS to auction multiple former school and office locations. FCPS has declared the properties surplus, and they will be offered in two sale events in November and December.

The first auction features the former Johnson Elementary School at 123 East Sixth Street and Linlee Elementary School at 2420 Spurr Road.

According to the release, sealed bids for both properties are due November 10 to the auction and brokerage firms, with a $100,000 bidding deposit plus proof of financial ability to close. If competitive bids are submitted, the highest bidders will be invited to a “best and final” online auction November 12, starting at the highest sealed bid amount.

Public inspection tours are set for October 27 and November 3. Information is available at www.tranzon.com.

Property details listed in the release:

• 123 E. Sixth St.: 3.185-acre campus, 47,790-square-foot building, built in 1939 with additions in 1955, 1958 and 1976, decommissioned in 2026.
• 2420 Spurr Rd.: 10.89-acre campus, 61,279-square-foot building, built in 1927 with addition in 1976, decommissioned in 2026.

The winning bidder will be required to pay a 10% escrow deposit, plus a 6% buyer’s premium added to the high bid, according to the release.

A second auction event is scheduled for December:

• Former central office complex at 701 East Main Street: sealed bids due December 8, with best and final bidding December 10.
• Residential property at 700 Bullock Place: online auction culminating December 15.

According to the release, the Fayette County Board of Education undertook surplus declaration and sale approvals at its June meeting, and Tranzon and Schrader submitted a joint proposal through an RFP process. Pre-auction offers will be considered under the same auction terms.

WKYT has previously reported the district planned to sell surplus property to help balance its budget.

In May, WKYT reported FCPS’ proposed budget for the next fiscal year included about $3 million in estimated revenue from property sales — described then as a conservative estimate. That plan included the former district administration building on East Main Street and the building behind it on Walton, plus the building housing the Carter G. Woodson STEM Academy for Boys on East 6th Street and the Rise STEM Academy for Girls on Spurr Road. Those two schools moved into one new building on Versailles Road.

In January, WKYT reported the board voted to contract with Schrader Commercial Properties and Tranzon Asset Advisors to sell the Southside Technical Center building on Harrodsburg Road, valued in property assessor records at $8.9 million. The district closed that location in May 2025 and merged into The Hill in downtown Lexington. That sale was recommended by the district’s Budget Solutions Work Group last fall and included in the 2025-2026 working budget.