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 former Fuddruckers restaurant; and many bank-owned properties. Pre-auction bids are highly encouraged.
Online and sealed bid auctions include Section 8 residential rental properties, retail, mixed-use, industrial, office, luxury residential, income-producing residential, and vacant land properties.
Commercial
Up for auction July 20 to 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.
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.
