Idaho Department of Lands will auction eight state endowment lots on Priest Lake appraised at just over $10.4 million for deeded ownership on Saturday, August 23, 2025, in Coeur d’Alene. Six lots are leased and two are not.
The auction starts at 10:30 a.m. Pacific Time at the Best Western – Coeur d’Alene Inn.
All leased lots have cabins on them. The land is held in trust by IDL for Public Schools beneficiaries, but the cabins and other improvements on the land are owned by the leaseholders as personal property. One of the unleased lots also has a cabin on it, which is owned by the endowment.
The current leaseholders applied to participate in the auction. If the high bid is from someone other than the current leaseholder, the winning bidder must pay the leaseholder the appraised value of the home and personal property on the land at the time of the auction. The personal property on the unleased lot is included in the appraised value.
The Idaho Constitution requires a public auction for the sale of endowment lands managed by the State Board of Land Commissioners and the Idaho Department of Lands. The Land Commissioners previously voted to auction the lots over time instead of continuing to lease them.
