The Park Tower
800 N. Michigan Ave., Unit 2303, Chicago, IL
Currently vacant, this 2,000 sq. ft., 2-bedroom, 2 bath unit has stunning views of Michigan Avenue, Lake Michigan, and great sunsets. The kitchen has Gaggenau and Miele appliances and Poggenpohl cabinetry. A spacious main bedroom with a walk-in closet. The full amenity doorman building offers the world-class amenities of the Park Hyatt Hotel, including Nomi Spa & Restaurant, Wine Bar/Terrace.
Previously Valued Well Over: $1,100,00
Suggested Opening Bid: $750,000
Viewing by appointment.
Auction Deadline May 6, 2021
An Entire 225-Car Downtown Chicago Parking Garage
150 E. Huron (near Michigan Avenue & Huron Street)
Adjacent to the Magnificent Mile Shopping District and Northwestern Memorial Hospital
The recently operating public parking garage is now closed and is part of a 3-unit commercial condo association where the other two units are a hotel and office building. Ideal for continuing as a parking garage, vehicle storage, museum, or other creative reuse. 5 floors of indoor parking.
Previously Valued Over $12,000,000
Suggested Opening Bid $3,850,000
On-site inspections Noon to 2 p.m. on April 13, April 21, April 27, May 5, 2021 and by appointment.
Auction Deadline: May 11, 2021
16 Old Town neighborhood condos spread across numerous different properties in newer modern buildings in excellent condition to be sold in bulk.
Projected Bulk Value 17 Years from Now Over $10,000,000
Projected Value of Comparable Units Today Approximately $6,000,000
Suggested Opening Bid $1,000,000
You are essentially purchasing 16 condos that have market values today of up to $450,000 each for approximately $65,000 each at the suggested opening bid. 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 17 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 16 units derives NO distributable income above and beyond expenses until the lease 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.
Auction Deadline: May 13, 2021