Auction.com Announces $1 Billion Online Auction of Over 165 Midwest U.S. Commercial Notes and Properties
- Nov 10, 2011
Irvine, Calif.–Auction.com announced today its fifth online auction of over 150 non-performing notes and commercial REO properties located throughout the Midwest. To date, Auction.com has conducted nationwide online auctions of commercial real estate and specialized regional auctions in Arizona, Nevada, Texas and the Southeast United States, totaling over $7.5 billion of valued assets.
Online bidding for the Midwest commercial REO properties and notes opens Monday, November 14, on Auction.com and concludes, Thursday, November 17. It includes hotel, industrial, land, mixed-use, mobile-home parks, multi-family, office, retail and self-storage assets. Starting bids range from $50,000 to $5.4 million.
The online auction is currently comprised of 48 assets in Michigan, followed by 38 in Illinois, 30 in Indiana, 25 in Ohio, 10 in Minnesota, nine in Wisconsin, three in Kentucky and two in Missouri.
The myriad of Non-Performing Notes and Commercial REO properties include:
- Hotel Riverwoods, Ill. Holiday Inn Express 115 rooms starting bid: $1.75 million
- Office Chicago Madison Ave. 125,729 SF starting bid: $3.2 million
- Retail Cincinnati seven buildings 90,625 SF starting bid: $1.2 million
- Office Aurora, Ill., class A, four story 107,087 SF starting bid: $1.1 million
- Multifamily Fort Wayne, Ind. six, three-story buildings 204 units starting bid: $1.5 million
- Land Springfield, OH 204 acres 7 developed lots, 162 acres undeveloped starting bid: $1.2 million