Auctions by ATG will host two auctions. The firm currently is accepting bids on luxury, specialty use, commercial and residential properties for an Aug. 28 auction. Also, an auction planned for Sept. 17 will offer numerous post offices located throughout Illinois.
The Aug. 28 auction will take place online and live at 9 a.m. at One South Wacker Drive, 24th Floor, Chicago. It features eight assets including a Hatteras motor yacht, an 18-hole golf course in Genoa, Ill., two flex warehouse spaces in Franklin Park, Ill., a single-family home in Enfield, Conn., a high-rise condominium in Chicago’s Edgewater community, residential vacant land in Lakemoor, Ill., and commercial land and buildings in Delavan, Wis.
The property in Delavan is the Belfry Dinner Theater, which is ideal for renovation or redevelopment. This high visibility, 2.5-acre property is located on Highway 67 across from Mercy Walworth Hospital and Medical Center. The property is optimal for retail, hospitality, offices or medical use.
“The properties in this auction are priced attractively and present a great investment opportunity for both investors and the general public,” Peterson said.
The auction also represents the first time Auctions by ATG will be branching out into the sale of luxury items. Bad Influence II, a 75-foot Hatteras previously valued at $1.7 million, has a minimum bid of $1,075,000. Currently docked in Ft. Lauderdale, Fla., it accommodates up to 10 guests in a five stateroom arrangement and features maple woodwork throughout.
“This is an exciting venture for Auctions by ATG as we enter a new market with our unparalleled on-line bidding technology and transparent on-line auction process,” Peterson said.
Pre-auction bids are encouraged.
The Sept. 17 online auction will begin at 9 a.m. and will offer post offices ranging from 756 square feet up to 2,431 square feet. Opening bids start as low as $34,476.
“So far, we have 13 post offices located in small towns throughout Illinois, and we will be adding more properties to this auction,” Peterson said. “The favorable price points and rental income make these properties an attractive investment for seasoned investors seeking to build their portfolio as well as everyday citizens seeking a good investment.”
Interested parties should visit http://www.auctionsbyatg.com to register to bid and join the mailing list to receive upcoming auction notices.
Many properties for both auctions will sell pre-auction and may close in 30 days or less. Buyers may also purchase the post office properties in bulk prior to the auction.
“Auctions by ATG has had great success in pre-auction sales,” Peterson said. “Our May 31, 2013, auction yielded $1.88 million in pre-auction sales alone.”
Launched in June, Chicago-based Auctions by ATG, a provider of live and online real estate auctions, is a wholly owned subsidiary of Chicago-based Attorneys’ Title Guaranty Fund Inc.