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Real Life Multimillion Dollar Real Estate Lesson for UST Students

By Kate Renner, published 2/11/2014, KSTP.com

It’s a real life real estate lesson. Some University of St. Thomas real estate students are taking part in a multimillion dollar home build, and soon a home sale.

The house, which is built on the last empty lakeshore lot in Edina is weeks away from completion. When the house is completed, it will be on the Parade of Homes tour starting March 1, and after that it’ll be put on the market.

The proceeds could raise the University of St. Thomas real estate program hundreds of thousands of dollars.
The cabinets that St. Thomas Senior Teresa Lingg helped pick out were installed in the kitchen Tuesday. Lingg was one of two student interns who worked with professional builders and contractors, who donated much of their time and materials to build the Edina house.

JMS Custom Homes is building the house as close to “at cost” as possible, for roughly $1.5 million, but the asking price will be much higher.

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