The family of famed Little Rock philanthropist and businessman Jennings Osborne is auctioning assets to raise cash and pay creditors.
His wife, Mitzi, and daughter, Allison "Breezy" Osborne-Wingfield, are selling the family’s landmark home with its white-walled front yard on Cantrell Road and the two adjoining houses.
The Osborne’s 11,699-SF house carries an appraised value of $1.6 million on the Pulaski County property tax rolls.
The adjoining houses were purchased by Osborne to placate unhappy neighbors affected by his ever-growing Christmas lights display and the holiday traffic drawn to view the radiant extravaganza.
The appraised values are $747,740 for the 5,341-SF house east of the Osborne homestead and $724,360 for the 5,341-SF house on the west side, according to the Pulaski County Assessor’s Office.
Also marked for sale is Breezy Meadows, a 9.5-acre equestrian spread at 19400 Kanis Road with a 6,463-SF house, four stables and two swimming pools. The property carries an appraised value of $704,465 at the Pulaski County Assessor’s Office.
Blackmon Auctions will sell the three houses, which actually carry Robinwood Drive addresses, on June 6. The sale of Breezy Meadows will follow on June 7. Auction details are online.
Jennings Osborne, who founded and later sold Arkansas Research Medical Testing in 2004, died of complications from heart surgery July 27 at the age of 67.
The family’s recent financial trouble publicly splashed on the properties earlier this year when Metropolitan National Bank of Little Rock filed a foreclosure lawsuit seeking to recover $170,804.
The debt represented a second mortgage on one of the Cantrell Road houses and Breezy’s 4,529-SF west Little Rock home at 43 Talais Drive in Chenal Valley.
The Little Rock lender claims the Osbornes defaulted on a loan with an outstanding balance of $166,659. The Metropolitan loan originally totaled $181,198 when it was made in August 2010.
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