The global real estate auction firm will host a multi-property auction online from April 5-7. Buyers will have the opportunity to bid online or submit pre-auction offers on a mixture of residential and commercial properties.
Led by Diana Peterson, SVN AuctionWorks is a woman-owned small business and an independently owned and operated franchise of SVN. Previously, Peterson served as executive vice president of Auctions by ATG, where she launched the company and was solely responsible for building the firm’s auction platform.
SVN AuctionWorks will provide its clients with the expertise and experience of the SVN network on a global basis.
“The auction method continues to be the quickest and most cost effective choice for buyers and sellers worldwide, and with the full-service capabilities of SVN AuctionWorks, we are poised to become a leader in both real estate and personal property auctions,” said Peterson, president of Chicago-based SVN AuctionWorks. “Partnering with the owners of Sperry Van Ness Chicago Commercial on this venture is a natural fit, as the firm has tremendous experience with auction and brokerage services and will support the endeavor through its extensive network of affiliates.”
SVN AuctionWorks will offer four separate service lines, including: real estate auctions, specializing in commercial and residential real estate; personal property auctions, including seized assets, equipment liquidations, bankruptcy sales, estate sales and some luxury personal property; appraisal services (SVN AuctionWorks has a USPAP certified personal property appraiser on staff); and advisory, offering consulting services to buyers who plan to bid at another company’s auction and are seeking expert assistance.
“Auctions have grown in popularity immensely in recent years and we wanted to meet this demand by adding a dynamic auction provider to our services,” said Al Stepan, managing director with SVN Chicago Commercial. “We were impressed with Diana and her accomplishments in the field and we knew a partnership would be beneficial for the firm and our clients. We are thrilled to be in this market and look forward to expanding our business through our partnership with Diana and our sister company, SVN AuctionWorks.”
Synergy between SVN AuctionWorks and SVN Chicago Commercial and its national affiliates will be key to the endeavor’s success, as SVN AuctionWorks will collaborate directly with SVN’s local leadership and brokers nationwide.
“This new venture will allow us to better assist our clients who have office, retail, multifamily, industrial and specialty use properties that are appropriate for auction,” said Scott Maesel, managing director of SVN Chicago Commercial.”
According to Peterson, the firm’s first auction will take place April 5-7 and includes a diverse list of commercial and residential properties. Online and pre-auction bids will be accepted at www.svnauctionworks.com.
“We are excited that our first auction has such a diverse list of properties for buyers,” said Peterson. “This auction will offer something for every real estate investor, from prime residential properties in Chicago and a well-located office building in Skokie, Ill., to a nine-hole golf course and 12-room inn in Marseilles and bank-owned vacant land on Chicago’s trendy North Shore.”