A multimillion-dollar home purchase dubbed “pieces of shit” has locals fearing how shrewd moves could affect the future of their neighbourhood.
Separating the port of Duluth from Lake Superior, the Park Point neighborhood on the sands of Minnesota Point off the coast of Minnesota and Wisconsin has become the focus of the wife of a food company heiress global Over the past year, Kathy Cargill bought 10 homes in the area, and according to the StarTribune, she did so at a $2 million markup.
Wife of billionaire James Cargill II, heir to Cargill, Inc., owner of brands such as Purina Animal Nutrition, Diamond Crystal Brands and dressings such as Wish-Bone, Ken's and Marie's, the paper said Kathy Cargill is the manager of North Shore LS . , LLC, the entity responsible for the large amount of purchases.
Looking at sales, StarTribune reported, “Most sales in North Shore LS are considered outliers when it comes to assessing property values ​​and will not count toward taxes paid in 2025,” said Mary Garness, Director of Public Records and Assessment of county properties. (Only three of the 10 homes were publicly listed, and each sold for much closer to their estimated values.)
Speaking to the New York Post, resident Danny O'Neil had said that “Christmas came early this year,” when North Shore LS bought a 1,500-square-foot home that had been listed at $370,000 for $825,000, only to be leveled.
“The houses we bought were crap,” said Cargill in the Duluth News Tribune. “I couldn't imagine living in any of them.”
The short-term gain for some like O'Neil threatened long-term consequences for others in the areas, as Duluth real estate agent Karen Pagel Guerndt warned the StarTribune, “If prices inflate in the timing of the sale, could make comparisons inflated for the future.”
Others expressed concern about a possible increase in property taxes that would slowly force residents out, with one local saying he had seen an increase of $4,000 to $6,500, while even more expressed concern about undeclared project that was underway.
Coral McDonnel, an 83-year-old resident who said she spent most of her life in Park Point, told the Post: “They bought lots next to our house and tore down three houses and two big garages.”
“I don't know what they are doing. There's a huge drill and it looks like they're drilling into the ground,” he continued expressing concern for the fragile ecosystem. “They took down a lot of trees, and that's sad. We need the trees to hold the sand [on grounds along the lake] to come with great blows. I feel concerned about our community and our neighborhood.”
Meanwhile, O'Neil explained how his house was graded after Cargill's “pieces of shit” comment. “This was my house. It's a family home that's an old beach house. This [remark] it made me feel bad. He's definitely trying to justify taking them down. But give me a break.”
“Kathy Cargill needs a PR person,” local Dave Poulin told the paper. “These are properties worth keeping and living with. She said they are not livable. They have not announced their intention and we can only speculate.”
What locals did know was that Cargill had spent about $2.5 million in 2021 to buy a house in Park Point said to be worth $1,380,500 that was later gutted and renovated.
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