A floor of the former House of Services in downtown Izmail has been put up for auction

A commercial space measuring 469.3 square meters has been listed for sale in the center of Izmail, in the Odesa region. The property is located on the third floor of the former Soviet House of Services, situated near the Central Market.

Journalists from the publication Intent learned of this from an announcement in the Prozorro.Sales electronic system.

The starting price for the lot is 6 million 295 thousand hryvnias. Thus, the price per square meter of commercial space at the start of the auction is estimated at approximately 13,400 hryvnias, or about 300 dollars.

The property features an open floor plan, allowing a future investor to renovate the space into modern apartments, smart apartments, a coworking space, or a medical center. The main technical advantage of the lot, aside from its location in the city’s “golden triangle” (near the Central Market and the Central Department Store), is its established electrical capacity of 50 kW.

<picture></picture>
The auction is being organized by a private company, Izmailbud LLC. According to the analytical service YouControl, the firm, with a registered capital of 130,000 hryvnias, was registered in Izmail a year and a half ago—in March 2025. In real estate market practice, the creation of a new company with a relatively small authorized capital for the sale of a specific large property often indicates that it is being used as a shell company (a so-called “special project company”) for tax optimization or the rapid resale of an asset.

The ultimate beneficiaries of the LLC are listed as Eduard Kovalenko from Kiliya (who is also the director) and Lilia Kyrychuk from Odesa. Another family member,Artem Kovalenko, is listed among the founders. The company’s primary activity is the leasing and operation of its own or leased real estate.

The auction is scheduled for October 12, 2026. It will follow the classic three-round format of an English ascending-bid auction. The deadline for submitting bids from potential participants is October 11.

The Izmail Household Services Building was constructed in the early 1960s. During the Soviet era, it was municipally owned and served as the city’s main hub for household services. In the 1970s and 1980s, the premises housed a custom tailoring shop, a knitwear workshop, a shoe repair shop, appliance repair shops, a photo studio, and a hair salon. During the small-scale privatization of the 1990s and 2000s, the property was gradually privatized and divided among dozens of small private owners and tenants. 

Антоніна Лубченко