Inland Real Estate Auctions, Inc.’s February Auctions Highlight Opportunities in Many Bank-Ordered Sales

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					Inland Real Estate Auctions, Inc.’s February Auctions Hi
Opportunities in Many Bank-Ordered Sales
Sale includes luxury homes, a suburban office building and mixed-use properties

January 20, 2010 11:23 AM Eastern Time  

OAK BROOK, Ill.--(EON: Enhanced Online News)--Inland Real Estate Auctions, Inc. announced today a lineup of properties th
auction event on Feb. 24. The auction includes two homes, luxury home sites and a mixed-use building that were previously in forec
being sold at the direction of the lender.

“Though some signs indicate that the recession is winding down, the effects of the downturn continue to be visible in the auction mar
continue to see a spike in the number of bank-ordered sales,” said Paul Rogers, senior vice president and managing broker of Inlan
Auctions. “Lenders are particularly motivated sellers, and these auctions offer aggressive opening bids and a real opportunity for bu
value.” 

Properties for sale include an 8,000-square-foot luxury estate in Lemont, Ill. The 5-bedroom, 5 ½-bathroom home was built two y
includes a pool, home theater, four fireplaces and a half-acre lot with lake views. Appraised at $1.8 million, it will be sold subject to
$1.1 million. Another home, a newly-renovated split-level on a one-acre lot in Homer Glen, Ill., will be sold subject to a minimum bi

Though not a bank-ordered sale, the auction will also feature a 35,000-square-foot all-brick office plaza, located at 4413 Roosevel
Ill. The buildings versatile floor plan is well-suited for medical or office use and has rental income in place. Previously priced at $3.3
sold subject to a minimum bid of $1.295 million.

Other properties up for auction include a 5,400-square-foot mixed-use commercial/apartment building in North Riverside, Ill. Zone
level space ideal for office or retail use, the property is being sold with rental income in place subject to a minimum bid of $195,000
also ordered the sale of a 38,134-square-foot piece of property in Orland Park Township, Ill. zoned for residential use and ideal fo
subdivision into two to three home sites, or re-zoning for commercial use. Originally priced at $599,900, the property will be auctio
minimum bid of $125,000.

Interested bidders can contact Inland Real Estate Auctions at (630) 990-5353 for more information or to obtain the Bidder’s Infor
specific to each offering.

About Inland Real Estate Auctions, Inc.

One of the nation’s top auctions firms, conducting transactions from coast to coast, Inland Real Estate Auctions, Inc.
(http://www.inlandreauctions.com) is a leading provider of accelerated marketing and auction services. As part of The Inland Real E
Companies, Inc., a national real estate company, Inland Real Estate Auctions, Inc. brings unique depth, experience and resources t
auction industry.

Contacts
Joel Cunningham, Inland Communications, Inc.
(630) 586-4897 cunninghamj@inlandgroup.com

Permalink: http://eon.businesswire.com/news/eon/20100120006261/en/auctions/inland/real-estate

				
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Description: Inland Real Estate Auctions, Inc.'s lineup of properties for a Feb. 24 auction include luxury home sites and a mixed-use building previously in foreclosure being sold at the direction of the lender.
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