$22 MILLION SHOPPING CENTER AUCTION In Northeast Ohio & Pennsylvania
Ohio - Auction Services Group, Inc. is pleased to announce the sale of nine shopping centers and one office building with aggregate sales of $22,000,000. The auction featured prime Northeast Ohio and Western Pennsylvania single and multi-tenant net-leased properties. “The auction allowed investors a unique opportunity to purchase one or more properties in desirable locations at one sale,” notes Roggeveen.
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TIMBER TRAILS COUNTRY CLUB SOLD AT AUCTION
Western Springs, Illinois - Auction Services Group, Inc., is pleased to announce the sale of the Timber Trails Country Club and Swim Club. Timber Trails Country Club is a 75 year old, heavily wooded, 104 acre, 18-hole golf-course in Western Springs, Illinois. The County Club was offered With Reserve with an Opening Bid of $15,000,000.
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RADISSON HOTEL WEST PALM BEACH SUCCESSFULLY AUCTIONED FOR $6.9 MILLION
West Palm Beach, Florida - Auction Services Group, Inc., is pleased to announce the sale of the 175 all-suite Radisson Suite Inn, Palm Beach Airport. The hotel was offered Without Reserve subject to a Minimum Bid of $3,875,000 which was $22,142 per suite.
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235 PAD MANUFACTURED HOME COMMUNITY in BRISTOL, WISCONISN SOLD FOR $11.8 Million
Wisconsin - Auction Services Group,Inc., is pleased to announce the sale of the Rainbow Lake Manor Manufactured Home Community located in Bristol, Kenosha County, Wisconsin. Rainbow Lake Manor was offered “Without Reserve” subject to a Minimum Bid of $7,500,000.
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250 LUXURY APARTMENTS IN NORTHEAST OHIO FOR $9.6 MILLION
Ohio - Auction Services Group, Inc., conducted the sale of the 106 unit Glen Eagles Apartments in Green, Ohio and the 144 unit Pheasant Run Apartments in Akron, Ohio. The two properties sold for $9.6 million.
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208,900 SQ. FT. HIGH VISIBILITY OFFICE BUILDING
Northwest Suburban Chicago
SOLD $4.65 MILLION
BANK HOLDING COMPANY ORDERS JUNE 15th AUCTION of the Former “Pepsi Building” at 3501 Algonquin Rd, Rolling Meadows, IL. The Crossroads of Commerce Bld. III is a ten-story plus bsmnt; 208,900 square foot office building built in 1984 with a center core design around 20,520 NRSF floor plates. The 8.68 acre site features 741 car parking. This high profile signature building sits on I-90 at the I-290/Route 53 North Exit ramp and offers unobstructed views by more than 350,000 vehicles daily.
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DEVELOPER CLOSEOUT AUCTION - FIVE LUXURY CONDOMINIUMS
Forest Park, IL
7320 W. Madison St. - Developer directs auction of the final 5 units in the Tuscan Lofts Condominiums. Unique 2 bd, 2 1/2 bath, two story lofts with Old World Italian ambiance. Orig. Priced to $348,000. Minimum Bids from $135,000.
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BANK DIRECTED SALE
Highland Park, IL
SOLD $1.6 MILLION
SHERIDAN RD., HIGHLAND PARK, IL - New 10,700 SF home had 12 rooms, 5 br and 6.5 ba. Minutes from Lake Michigan, it featured 10’ ceilings, decorative stone, tile & cherry wood thru/out and 4 fplc. Exercise, media, rec. rms and wet bar in finished LL.
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RAINBOW LAKE MANOR: 235 PAD MANUFACTURED HOME COMMUNITY
Bristol, Wisconsin
Sold $11.8 million.
This Court ordered auction was conducted with an established Minimum Bid of $7,500,000. The community was 100% occupied with a gross income of over $1 million. Prospective buyers responded from 17 states and Canada.
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New Homes, Condominiums and Homesites
Suburban Denver
SOLD $1,745,000
Through the use of a post auction marketing program the 9 condominiums in Aurora were sold in bulk to a local investor and the 4 homes in Aurora and Firestone were sold to individual home buyers. In addition, 6 of the homesites were sold.
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TIMBER TRAILS COUNTRY CLUB
Cook County, Illinois
Sold $46 million.
Believed to be the highest sales price ever achieved for a single asset sold at an oral outcry auction. The property was offered with an opening bid of $15 million and consisted of 104.16 acres of prime residential development ground.
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10 Shopping Centers & Office Building
NORTHEAST OHIO & PENNSYLVANIA
Sold $22 million.
All properties were owned by the original developer. Purchasers from 7 states attended the auction and bought properties. The office building was sold prior to the auction. Sale prices ranged from $434,700 to $6,830,000. All properties were closed in less than 45 days.
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Partnership Orders Sale of 597 Apartments
Columbus and Cincinnati, Ohio
Sold $12.7 million.
Four communities were offered subject to minimum bids that ranged from $11,268 per unit to $27,731 per unit. The auction drew bidders from as far away as California and added to the total apartments units sold by the Auction Services Group in Ohio to just under 2,000 in 1½ years.
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10,000 SQ. FT. LAND SITE
CHICAGO, ILLINOIS
SOLD $3.5 MILLION.
Court Ordered Sale – Offered on an Absolute basis – Without Reserve. The N.W. corner of LaSalle & Kinzie, adjacent to the Merchandise Mart, was at the time of this auction one of the finest parcels available in downtown Chicago. One block north of the Chicago River, this land site was an ideal candidate for immediate development.
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HOMES, CONDOMINIUMS AND HOMESITES
METRO DETROIT, MI
Sold $7.93 million.
Largest new home auction ever conducted in Metro Detroit. Builder closeout of 23 new homes, 24 condominiums and 40 homesites in 9 communities. The grand ballroom of the Troy Marriot was filled with over 250 active bidders. All properties closed in 33 days.
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