Lexington Schools Will Auction Surplus Properties Soon

The Fayette County Public Schools district will sell four properties through public auctions starting in November.

Updated on Oct. 6, 2026 in Administration

Screen-print poster illustration of a red brick schoolhouse and iron gate, representing community real estate transition in Lexington. — Fayette County Public Schools has announced a series of public auctions to sell four surplus properties, including two elementary schools, starting this November. AI Illustration. Upload story photo >

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Fayette County Public Schools has scheduled the sale of four surplus assets, including two former elementary schools and a former central office complex, to take place across November and December 2026. The Fayette County Board of Education officially approved these property disposals during a meeting in June.

Why it matters

The sale of these vacant district properties allows the school system to divest from underutilized real estate and repurpose the funds. These auctions move significant local plots of land toward new ownership and potential redevelopment.

The district is auctioning sites including the former Johnson Elementary at 123 East Sixth Street, Linlee Elementary at 2420 Spurr Road, the central office at 701 East Main Street, and a residential plot at 700 Bullock Place.

The players

Fayette County Public Schools

This is the primary school district serving the Lexington, Kentucky area and managing the listed real estate assets.

Fayette County Board of Education

The local governing body responsible for overseeing district policies, budget management, and the approval of school property sales.

Tranzon Asset Advisors

A real estate services firm contracted to facilitate the auction process for the district properties.

Schrader Commercial Properties

An auction and real estate firm working alongside Tranzon to manage the commercial property sales.

The details

Tranzon Asset Advisors and Schrader Commercial Properties will manage the transition of these four locations to private ownership. While most properties will be sold via standard auction, the central office complex requires a specific sealed-bid process.

The board approved the surplus declarations in June 2026.
Initial auctions for the school properties begin in November 2026.
Sealed bids for the 701 East Main Street office complex are due on December 8, 2026.
Final bidding for the office complex concludes on December 10, 2026.
The residential auction for 700 Bullock Place ends on December 15, 2026.

Culture Shift

The liquidation of these aging educational facilities marks a shift toward modernizing district real estate holdings in growing urban centers. This process mirrors the trend of public institutions trimming physical footprints to reinvest in core operational efficiency.

Residents may see changes in traffic and site security as these prominent Lexington locations prepare for the auction process. Prospective buyers or developers should monitor the specific bid deadlines for each property to ensure they meet the submission requirements.

The takeaway

Interested parties should verify all bid deadlines, as the process for the central office differs significantly from the standard property auctions. Monitoring the district's official site will provide the most accurate timeline for property transfers.

What happens next

The first auction event for school properties begins in November 2026, followed by the December 8 deadline for sealed office bids and the December 15 conclusion of the residential auction.