SVN AuctionWorks has announced the firm will host several upcoming online and sealed bid auctions featuring retail, mixed-use, industrial, office, income-producing residential, luxury residential, and vacant land properties located throughout Illinois and Wisconsin.

The auctions, slated for various dates throughout June, July and September, will feature more than 200 commercial and residential properties, including a 10,500-square-foot luxury estate; five separate portfolios comprising more than 150 income-producing, Section 8 residential rental properties; a former Fuddruckers restaurant; and many bank-owned properties. Pre-auction bids are highly encouraged.

Residential
In June, the firm is offering for sale five separate portfolios comprising more than 150 income-producing, Section 8 residential rental properties, both single-and multi-family, located in Evanston, North Chicago, West Chicago, South Chicago, and Chicago’s southern suburbs. Two of the portfolios, comprising 110 properties and with an annual net income of $1.23 million, are scheduled for a sealed bid auction on June 30, but are available for purchase prior to that date. Two additional portfolios, comprising another 40 properties, are available off market. The fifth portfolio, comprising 8 properties in Evanston and North Chicago, is included in the firm’s June 17-19 online auction.

“These portfolios offer institutional investors a tremendous investment opportunity, especially for those looking to add Section 8 housing to their investment strategy,” said Diana Peterson, president of Chicago-based SVN AuctionWorks. “These single- and multi-family investments continue to produce strong returns, so auctions like this are a smart way to obtain these types of portfolios.”

Running June 17-19 is an auction for a 10,500-square-foot, seven-bedroom, 8½-bath luxury Oak Brook property featuring an elevator, four fireplaces, three decks (including one wrap around), an indoor sport court and a highly-finished 4,500-square-foot lower level complete with an entertainment/media area, second kitchen, second laundry, exercise room, sauna, bedroom, full bath and access to the four car heated garage. The fully modernized home has a suggested opening bid of $1.59 million.

“Located in a gated community of more than 20 custom homes in one of Chicago’s top suburbs, this amazing property is situated on 1.3 heavily wooded acres and boasts beautiful gardens,” said Peterson. “It’s hard to find homes under $2 million with these features anywhere, let alone in highly desirable Oakbrook. The new owner will enjoy marble floors, an open floor plan ideal for entertaining, a recently redone, dream kitchen with top appliances, top-tier luxury finishes and state-of-the-art electronics throughout, including two media rooms with projectors, motorized screens and surround sound, 17 flat screen TVs, closed circuit TV whole house monitoring, an entire house sound system and much more.”

Other Illinois residential properties up for auction include a custom, single-family home in Burr Ridge; two single-family homes in Palatine and Des Plaines; a vacant residential lot in St. Charles; a bank-owned single-family home and former religious facility in Waukegan; and three bank-owned multifamily properties in Chicago, one with 24 units and two six-unit buildings. The auctions also include four vacant residential lots totaling approximately .68 acres in Kewaunee, Wis.

Commercial
Up for auction July 20-22 is a former Fuddruckers Restaurant in Addison, Ill. The 9,000 square foot property has a suggested opening bid of $960,000 and is zoned as B-2 Community Business District. Located at 1000 North Rohlwing Road, the property is partially equipped on 4.4 acres and adjacent to a Wal-Mart and Sam’s Club. The building offers approximately 8,000 square feet of first floor space with a fully open lower level of the same size. It also has the potential for apartment development, with approval from the Village of Addison.

Also up for auction in July is an approximately 104 acre retail / industrial development site in St. Louis Metro East (Collinsville, Ill.). Located just 10 miles from St. Louis, Mo., the property is situated across Interstate 55/70 from multiple hotels, full-service restaurants, and Gateway Center, the regional convention center. Super Wal-Mart, Home Depot and Power Center are all within approximately 400 feet. The parcel, which was previously valued at $5 million, has a suggested opening bid of $3.5 million. The land is divisible, has Interstate visibility and may be eligible for municipal tax incentives.

Other commercial properties in Illinois up for auction include two industrial/storage buildings in Cicero; an almost fully leased strip mall in Alsip; two commercial buildings in Summit and Chicago; a manufacturing warehouse in Chicago; an approximately 1.7 acre commercial development opportunity in Elgin; a mixed-use building in Cicero; two daycare facilities/schools in Orland Park and Schaumburg; a professional office building in Inverness; an office/flex building in Schaumburg; a two-unit retail/office building in Aurora; and vacant commercial land in Round Lake Park. The auctions also include several bank-owned commercial properties, including a 182,000 square foot single-tenant industrial warehouse in Watseka and a bank-owned commercial building (retail/office/warehouse) in Algonquin.

Bank-Owned Land Parcels
SVN AuctionWorks also has several bank-owned land parcels in Illinois up for auction, both commercial and residential.

The commercial parcels include a fully improved lot in Montgomery, and vacant lots in Port Barrington, Yorkville and New Lenox.

Residential bank-owned land parcels up for auction will all be sold absolute. These vacant parcels include two lots in Markham, one lot in Dolton, one lot in Flossmoor and two lots in Harvey.

To see the full list of properties up for auction, visit www.svnauctionworks.com and join the mailing list to receive upcoming auction notices. Buyers can bid online or submit offers directly.

All of SVN AuctionWorks’ online bids are placed by actual prospective purchasers who are registered to bid, and the firm never bids on behalf of the seller. According to Peterson, this process creates the most open and transparent online bidding experience.

About AuctionWorks
AuctionWorks is a majority woman-owned business and an independently owned and operated franchise of Sperry Van Ness. AuctionWorks offers a wide variety of commercial real estate at auction, (including industrial, multi-family, office and retail) as well as specialty use properties (e.g. golf courses, shopping centers, hospitality, automotive) and all types of residential real estate. AuctionWorks has a substantial network of real estate brokers and investors to whom we successfully target market our auction properties.

For more information about SVN AuctionWorks, visit www.svnauctionworks.com/.

To learn more about Sperry Van Ness | Chicago Commercial, visit www.svnchicago.com.