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.
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.