An Incredibly Unique Real Estate Auction Opportunity, Chicago, IL, November 7, 2019
82 Old Town neighborhood condos spead across numerous different properties in newer modern buildings in excellent conditions to be sold in bulk.
Projected bulk value 20 YEARS FROM NOW over $50,000,000
Projected value of comparable units TODAY approximately $28,000,000
To be sold subject to a minimum opening bid of $5,000,00
You are essentially purchasing 82 condos that have market values today of up to $425,000 each for approximately $64,000 each at the published minimum bid plus a buyers premium. This is a great inflation hedge that should accomplish the goal of asset preservation while giving the owner a strong opportunity for oversized returns. A clever diversification for your portfolio. Think of this as you might an annuity or a zero coupon bond, and discuss with your accountant or financial planner the estate planning and wealth transfer implications that could benefit a purchaser.
Approximately 20 years remaining on a government guaranteed master lease that eliminates all property taxes, all assessments are paid, and units are well maintained and updated thru the course of the lease. The ownership of these 82 units derives NO distributable income above and beyond expenses until the leases on each unit expires.
If you have a long term strategy, are bullish on Chicago's future, are a family office, a college endowment, or a savvy investor who knows a tremendous opportunity when they see it, please contact us for more details.
Currently Vacant Private High School Campus
Well maintained approximately 105,500 sq. ft. building on 9.5 acres, complete with two gymnasiums and auditorium, baseball and softball fields with dugouts, 28 classrooms, 700+ students capacity, wood and metal shops, drafting and media rooms, large kitchen and dining areas, 5 tennis courts, band room, locker rooms and over 200 parking spots, zoned R-2 single family.
Replacement Value Well Over $10,000,000
Previously Priced to $4,500,000
Suggested Opening Bid $450,000
On-Site Inspections 11am to 1pm on October 23rd, 29th and November 5th
In conjuction with Coldwell Banker Commercial NRT
Auction Deadline November 14, 2019
Currently closed former Citgo gas station.
Approx. 403 sq. ft. building on a 15,674 sq. ft. lot.
Previously Valued to $1,000,000
Suggested Opening Bid $ 200,000
On-site Inspections 10:30 a.m. to Noon, October 30 and November 12, 2019
Auction Deadline November 14, 2019
Just several blocks North of Lake Cook Road.
Previously Valued to $1,300,000
Suggested Opening Bid $475,000
Auction Deadline November 14, 2019
Currently operating Mobil Gas Station with adjacent vacant parcels.
Previously Valued to $950,000
Suggested Opening Bid $350,000
On-site inspections by appointment.
Auction Deadline November 14, 2019
Currently vacant 3,000 sq. ft. building on a 6,700 sq. ft. lot.
Previously Valued to $450,000
Suggested Opening Bid $75,000
On-site inspections by appointment.
Auction Deadline November 14, 2019
Lender Owned, 3,200 sq. ft. former Hardee's with drive thru on approximately 1 Acre.
Numerous adjacent hotels and close to Chicago Executive Airport. Zoned B-2.
Previously Valued Well Over $1,000,000
Suggested Opening Bid $175,000
On-site Inspections 1:30 to 3:00 p.m. on October 30th and November 12th, 2019
Auction Deadline November 14, 2019
Vacant approx 1 Acre parcel at stoplight with Wal-Mart on one corner and Walgreens on another.
Previously Valued to $1,500,000
Suggested Opening Bid $400,000
Auction Deadline November 14, 2019
One of Chicago's Finest Homes in One of Chicago's Finest Neighborhoods
Purchased 4 1/2 years ago for $4,200,000 and then beautifully restored for $2,700,000. A total $6,900,000 investment is now being offered subject to a minimum bid of $3,350,000.
Gold Coast Mansion with 6 bedrooms, 6 baths and 2 powder rooms, 2.5 car garage on a oversized lot. Chef's kitchen over looking landscaped garden. Elevator travels all the way to the roof terrace, 4 fireplaces. Coach house offers 1 bedroom and 2 baths above the garage. Outdoor terrace provides grilling; private wet bar. Near lake, parks, shopping and fine dining. Broker participation invited.
Open Houses:
4 to 6 p.m. on Thursday, Nov. 14; 1 to 3 p.m. on Sundays, Nov. 17, Nov. 24 and Nov. 30.
In Conjunction with Re/Max Premier
*Subject to a 5% Buyers Premium
Auction Deadline December 3, 2019