Real Estate

Iconic 'Ziggurat' Building In Laguna Niguel Sold For $177M

The five-month auction for the Chet Holifield Federal Building is over, with the federal office building going for $177 million.

LAGUNA NIGUEL, CA — The ongoing auction for Laguna Niguel's iconic "Ziggurat" building has come to a close, with the building going for $177 million after a five-month bidding war.

According to the General Services Administration sales website, "Bidder #02" won the auction with the final bid, a minimum $300,000 increment made at 3 p.m. on Wednesday, Oct. 23.

The auction, which started June 5, included rules for a "soft close" — meaning that if the highest bid is topped in a 24-hour period, the deadline gets extended for another 24 hours.

Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.

According to the GSA's website, no bid was made in that time frame, and the auction closed at 3 p.m. Oct. 24.

The buyer, who has not been identified, wins the pyramid-shaped Chet Holifield Federal Building that opened in 1971, according to previous reports.

Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.

The end of the auction likely spells the beginning of the end for the building, dubbed the "Ziggurat" and designed by famed architect William Pereira.

The building's first auction, which concluded in April 2023, required a buyer to keep the building intact. It drew no bids, according to previous reports.

The lack of interest resulted in the GSA modifying the purchase rules and allowing for a buyer to demolish the property.

Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.