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10-12-2018, 07:32 AM
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Join Date: Jan 2012
Location: On the border in Lloydminster
Posts: 8,364
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Rural Sask. mansion assessed at nearly $2.6 million sells for $550K
My chance at a little fixer upper retirement home gone! 
A rural mansion assessed at almost $2.6 million sold Thursday at auction for $550,000.
'It's one of a kind': $2.6M rural Sask. mansion for sale
The unfinished, 12,000-square-foot home was to be the retirement home of a Ukrainian businessman. It sits on more than 100 acres of farmland near Kinistino, Sask., which is about 145 kilometres northeast of Saskatoon.
The home features geothermal heating, a 2,700-foot four-car garage, a movie theatre, an elevator, a solarium, a fitness centre and a swimming pool with two adjacent saunas.
he businessman set to retire there ran into issues with obtaining citizenship and the house was being built on a Prince Albert family's land.
The landowner died in 2016, and the sale is part of settling his estate.
Fritshaw said the sale wrapped up as well as he could have expected.
"At the end of day, our sellers are very happy with the results, which in turn makes us happy with the results."
https://www.cbc.ca/news/canada/saska...sold-1.4859360
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10-12-2018, 08:11 AM
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Join Date: May 2007
Location: Calgary
Posts: 3,343
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Darn it ! I was just in the market for a 2.5 - 3.0 million dollar home. I could have saved some coin. Oh well, I guess I will just stay put in my humble abode.
Dodger
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Freedom comes with responsibility and integrity. Not stupidity and self entitlement.
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10-12-2018, 08:25 AM
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Join Date: Aug 2008
Location: CNP
Posts: 3,760
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Who would want to live there? Kinistino looks like a great place to be from.
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You are what you do, not what you say.
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10-12-2018, 09:38 AM
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Join Date: Sep 2012
Posts: 6,261
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Probably close to the actual value as "unfinished" 2x4's and plywood do not cost much, it is the bathrooms, hardwood, cupboards where
most of final major costs in a home.
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10-12-2018, 09:48 AM
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Join Date: Feb 2008
Posts: 3,081
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Quote:
Originally Posted by lannie
Who would want to live there? Kinistino looks like a great place to be from.
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Not to bad. 1 hr to Saskatoon, 1/2 hr to Prince Albert, Humboldt. Record monster Whitetail country, Moose, Goose hunts. Monster Walleye (10-20lbs), less than 1 hour away to Tobin Lake. Hot women in Melfort, I dated a few, many years ago. Outdoorsman Dream home. 
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10-12-2018, 10:22 AM
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Join Date: Dec 2010
Location: East Central AB
Posts: 1,144
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The fellow I worked with stayed at that businessman's place in the Ukraine. The guy saw the political and business climate changing in the Ukraine and had sold off some of his businesses for 10 million and was going to diversify into Canada. He was actually a very humble man but very good at making money. He liked the Saskatchewan area and started to build that home. Seems like his luck ran out.
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10-12-2018, 11:16 AM
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Join Date: May 2010
Location: edmonton
Posts: 3,847
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12000 SQ feet
dedicated trophy room...big games from every continent
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10-12-2018, 12:09 PM
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Moderator
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Join Date: Jul 2008
Location: A bit North o' Center...
Posts: 11,150
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Hey, I could definitely have seen myself in a place like that!
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10-12-2018, 12:28 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,071
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The wife said we should have bought it, she had always talked about having a place for special weddings. Imagine the possibilites for that and of course other things. Personal indoor archery/gun range, pretty much anything someone wanted. 12,000 sq ft is likely on the main floor only, so 30,000 feet or so of living space?
But imagine as well the taxes, the insurance, cost to finish, cost to heat alone would be atrocious.
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought..... 
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10-12-2018, 12:51 PM
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Join Date: Jan 2014
Location: Edmonton
Posts: 5,612
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Did it say that the wealthy Ukrainian businessman had problems getting his visa? What a bloody joke! The guy was about to invest MONEY and pay taxes - god forbid! Better bring more illegals from the states!
“Poor” Ukrainian should’ve just cross the border and asked for refugee status. 
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10-12-2018, 12:53 PM
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Join Date: Apr 2011
Location: Saskatchewan
Posts: 109
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Taxes are 20k a year, now.
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10-12-2018, 01:05 PM
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Join Date: Jun 2007
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Supposedly the landowner, Dave Cook, started a farm equipment company called AG World. Rumour is that they were part of a religious group called Branhamism.
Cook let a Russian named, Tsekhmistrenko use the land to build a replica of his Russian mansion. Tsekhmistrenko couldn't get his citizenship, Cook died and the family had to sell the land/house to settle his estate.
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10-12-2018, 01:07 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,071
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Quote:
Originally Posted by njd03
Taxes are 20k a year, now.
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yargh
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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10-12-2018, 01:49 PM
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Join Date: Apr 2008
Location: Edmonton
Posts: 1,685
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Quote:
Originally Posted by KGB
Did it say that the wealthy Ukrainian businessman had problems getting his visa? What a bloody joke! The guy was about to invest MONEY and pay taxes - god forbid! Better bring more illegals from the states!
“Poor” Ukrainian should’ve just cross the border and asked for refugee status. |
Yeah, he should have just walked in from North Dakota. Serves him right for trying to go through proper channels.
Let that be a lesson to every wannabe Canadian.
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10-12-2018, 02:09 PM
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Join Date: Jan 2012
Location: On the border in Lloydminster
Posts: 8,364
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Quote:
Originally Posted by njd03
Taxes are 20k a year, now.
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Now is the operative word
the Sask. RM's have a license to steal I have friends by Last Mountain lake 2000 sq. ft. house on a lake lot, taxes last year were $3960 this year a shade over 8K! Big tax revolt going on there.
Retire at the lake said it would be fun they said.
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10-12-2018, 02:12 PM
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Join Date: May 2007
Location: Calgary
Posts: 7,509
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Looks a bit too small for my needs.
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10-12-2018, 02:26 PM
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Join Date: Dec 2012
Location: At the end of the Thirsty Beaver Trail, Pinsky lake, Alberta.
Posts: 24,586
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Quote:
Originally Posted by njd03
Taxes are 20k a year, now.
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oops didn't think about that one.......and that the foundation is collapsing.... 
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Be careful when you follow the masses, sometimes the "M" is silent... 
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10-12-2018, 05:43 PM
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Banned
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Join Date: Dec 2013
Posts: 1,509
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The mysterious "Ukrainian" businessman doesn't seem to have much business sense. After-all, who would build a mansion on land which they don't own?!
I wouldn't ever set my foot into a house like that. It is a monument to consumerism and excess.
Last edited by grouse_hunter; 10-12-2018 at 05:49 PM.
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10-12-2018, 06:15 PM
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Join Date: Jun 2007
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Be interesting to know what the taxes following the sale will be since the value is only what it’s worth and now it’s only worth $550,000.00. Based on that taxes should be in the $4000.00 range. In my area anyway. That would be crazy for that property!!
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10-12-2018, 06:21 PM
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Join Date: May 2010
Location: edmonton
Posts: 3,847
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Quote:
Originally Posted by warriorboy10
Be interesting to know what the taxes following the sale will be since the value is only what it’s worth and now it’s only worth $550,000.00. Based on that taxes should be in the $4000.00 range. In my area anyway. That would be crazy for that property!!
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but think of the heating bill for that place and lets not forget the carbon tax 
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10-12-2018, 07:28 PM
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Join Date: Feb 2012
Location: Calgary
Posts: 120
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Quote:
Originally Posted by bat119
Now is the operative word
the Sask. RM's have a license to steal I have friends by Last Mountain lake 2000 sq. ft. house on a lake lot, taxes last year were $3960 this year a shade over 8K! Big tax revolt going on there.
Retire at the lake said it would be fun they said.
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Saskachewan has a large percentage of the population that don't pay taxes and never will. Not enough taxpayers equals higher taxes. Great province for outdoor pursuits. It,s too bad the Ukrainian guy couldn't get citizenship, lots of Ukrainian descendants there, not many Syrians.
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10-12-2018, 07:29 PM
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Join Date: Jan 2014
Location: Edmonton
Posts: 5,612
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Quote:
Originally Posted by fishtank
but think of the heating bill for that place and lets not forget the carbon tax |
Nope, no heating bill for this place, it runs on the geothermal heating...
I’m interested who actually bought it and for what reason/purpose. They will need to finish the construction first and that will be an over 1,000,000 for sure. And then what? Is it going to be a private house or a hunting lodge?
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10-12-2018, 07:32 PM
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Join Date: Jan 2014
Location: Edmonton
Posts: 5,612
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Quote:
Originally Posted by grouse_hunter
The mysterious "Ukrainian" businessman doesn't seem to have much business sense. After-all, who would build a mansion on land which they don't own?!
I wouldn't ever set my foot into a house like that. It is a monument to consumerism and excess.
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That’s actually small compare to the “Russian standards”! I was in Moscow in June and boy oh boy do they build “cottages” there.....
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10-12-2018, 08:00 PM
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Join Date: Oct 2012
Posts: 48
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Too much house, not enough garage. I'd prefer a tiny old farmhouse with ten or more heated Quonsets. Now that'd be a place worth buying.
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10-12-2018, 10:31 PM
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Join Date: Dec 2009
Location: Alberta
Posts: 3,650
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Quote:
Originally Posted by KGB
Nope, no heating bill for this place, it runs on the geothermal heating...
I’m interested who actually bought it and for what reason/purpose. They will need to finish the construction first and that will be an over 1,000,000 for sure. And then what? Is it going to be a private house or a hunting lodge?
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Neighbor has geothermal and his electric bill is brutal, he actually used natural in his shop after building the house as its cheaper than electric to run the pumps.
20 K in taxes in reasonable IMO, I would have been all over that property like a fat kid on a smarty.
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10-12-2018, 10:32 PM
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Join Date: Dec 2009
Location: Alberta
Posts: 3,650
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Quote:
Originally Posted by Calvintheredneck
Too much house, not enough garage. I'd prefer a tiny old farmhouse with ten or more heated Quonsets. Now that'd be a place worth buying.
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I think building a shop is the least of your worries if you had a property like this. 
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10-13-2018, 09:39 AM
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Join Date: Apr 2008
Posts: 5,652
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I'm sure if he could afford to build all that, taxes and heating bill are the least of his concerns...Lol...
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10-13-2018, 06:32 PM
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Join Date: Dec 2008
Location: Alberta
Posts: 24,071
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If I had money dripping out of every orifice I would have bought that house. If someone wanted to come visit, you just whip over in the Jet Ranger and pick them up, back in a couple hours from 2 provinces over! 
I would love having a shack like that, I think it would be amazing. 100 acres to play on, there's water there so of course there would be a massive trout pond, indoor shooting range(s), just a total party place.
__________________
Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
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10-13-2018, 06:56 PM
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Join Date: Aug 2008
Location: CNP
Posts: 3,760
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That house had great exposure as I would think a few thousand people looked at it before it went under the Ritchie bros hammer. It got fair market value. All it really had going for it was it's uniqueness due to it's size. The location might be appealing for hunting etc. but it's a second home unless you can make a living there or you retired. If you are retired and have a lot of cash why would you want to be there instead of some nice ranch country with mountains etc. Maybe somewhere with much better weather or salt water....I would also bet there are lots of less desirable types living in that area who would be looking to loot the place. If the house was 3000 sq. feet finished the listing would have brought more money.
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