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Inland Real Estate Brokerage & Auctions, Inc. to Auction Income-Producing Investment Properties in Chicago and Northwest Indiana

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Inland Real Estate Brokerage & Auctions, Inc. to Auction Income-Producing Investment Properties in Chicago and Northwest Indiana Powered By Docstoc
					Inland Real Estate Brokerage & Auctions, Inc. to
Auction Income-Producing Investment Properties
in Chicago and Northwest Indiana
February 09, 2011 10:49 AM Eastern Time  

OAK BROOK, Ill.--(EON: Enhanced Online News)--Inland Real Estate Brokerage & Auctions, Inc. announced
today the upcoming auction of multiple income-producing investment properties located in Chicago and Northwest
Indiana during an auction event on March 23. Properties up for auction include an operating express car wash/detail
center located on Route 30 in Valparaiso, Indiana, to be sold by order of the U.S. District Court. Appraised at $1.4
million, the property was recently constructed in 2005 and includes a tunnel wash and three detail bays situated on a
three-acre site with room for expansion.

“We are increasingly seeing these types of court sales of operating cash flow businesses, where the ownership is
troubled, rather than the asset,” commented Paul Rogers, president of Inland Real Estate Brokerage & Auctions.
“The courts through the appointed Receivers are utilizing our professional auction services to market and sell the
properties quickly to minimize any disruption in the operating business. With our auction programs, the businesses
and real estate can be marketed and sold in as little as 45 days.” 

Other properties scheduled to be sold on March 23 include multiple income-producing residential properties in
Chicago. Among them is a three-flat apartment building at 6135 S. Evans Ave., a two-flat at 8046 S. Marquette
Ave., a two-flat at 8346 S. Colfax Ave., a two flat at 8448 S. Exchange Ave., three condo units in a building
located at 5914 S. Martin Luther King Drive and single-family residences at 7147 S. University Ave. and 7438 S.
Kenwood Ave. All properties will be offered separately and are being sold by court order subject to low minimum
bids.

Additionally, a 39,466-square-foot former USDA-approved freezer/cooler building in Ashkum, Illinois (Kankakee
County) will be auctioned absolute, with a suggested opening bid of $100,000. Appraised at $3.1 million, the 10.2
acre property offers excellent access and visibility from Interstate 57.

“This sale is at the direction of the bank that holds the note on the property,” Rogers said. “Here too, banks are
increasingly using our auctions to expose properties to the widest possible audience in the shortest amount of time,
thereby substantially reducing carrying costs and losses.” 

Interested bidders should contact Inland Real Estate Brokerage & Auctions, Inc. at (630) 990-8400 to obtain more
information or a Bidder’s Information Package for each property.

About Inland Real Estate Brokerage & Auctions, Inc.

Inland Real Estate Brokerage & Auctions, Inc. specializes in providing accelerated marketing and auction services
coast to coast, and is a leading real estate investment brokerage and advisory firm servicing the Chicagoland region,
Indiana and Wisconsin. As part of The Inland Real Estate Group of Companies, Inc., a national real estate company,
Inland Real Estate Brokerage & Auctions, Inc. brings unique depth, experience and resources to the real estate sales
and advisory industry.

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

Permalink: http://eon.businesswire.com/news/eon/20110209006357/en/auctions/investment/inland

				
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