SHELDON GOOD & COMPANY AUCTIONS, LLC TO AUCTION 600 ACRES IN LAKE COUNTY

. March 5, 2008

Sheldon Good & Company Auctions LLC is offering for sale at auction ownership and rights associated with two of the largest undeveloped land assemblages in Lake County, Ill., announced Steven L. Good, Chairman & CEO of the Chicago-based real estate services firm.
The underlying property consists of 600 acres in the aggregate of undeveloped farmland which is being presented in two separate significant parcels: a 256-acre parcel in Libertyville Township with frontage on Hanlon and O’Plaine roads which will be conveyed in fee simple by deed to the purchaser; and beneficial interests in the title holding land trust associated with a 344-acre parcel in Warren Township consisting of two separate tracts, one of which includes 282 acres with frontage on I-94 as well as O’Plaine and Hanlon Roads (enjoying access to Belvidere Road (Route 120) via Hanlon Road), and with the remaining 62 acre tract having frontage on River Road.
The auction is scheduled for April 4, 2008 at the Hyatt Deerfield, 1750 Lake Cook Road, Deerfield, IL 60015. Registration is at 1 p.m., and the auction will begin at 2 p.m.
The auction will follow an open out-cry format, with minimum bids starting at US$4 million for the Libertyville Township parcel and US$8 million for the Warren Township parcel.
The land is almost entirely zoned R1, residential, and features gently rolling terrain with areas of trees. Good noted that while the land is subject to private and public development restrictions, it is ideally suited for estate-style residential development or open-land uses.
“There is always a strong demand for large parcels of open land with such proximity to Chicago. Because property like this rarely becomes available, that makes it all the more desirable,” said Good.
For more information, to schedule an inspection or to obtain bidder’s information packets, call Sheldon Good & Company at +1-800-315-2199, or visit http://www.SheldonGood.com.
Web site: http://www.SheldonGood.com

Category: Auction News

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