Inland Real Estate Auctions, Inc. Completes First Phase of $30 Million Fall Auction Series

Inland Real Estate Auctions, Inc. has completed its Chicagoland fall auction series, reflecting an increase in auctions across all property types and demonstrating an industry-wide 40 percent increase in the use of auctions in the last three years, as tracked by the National Auctioneers Association. Inland Real Estate Auctions has already completed a busy fall season and has more than 120 properties on the docket for the first quarter of 2008.

“In a transitioning real estate market, the auction has become the go-to marketing solution for sellers looking to avoid the typical sales struggle,” said Frank Diliberto, president and CEO of Inland Real Estate Auctions, Inc. “The variety of our current slate, which includes everything from high-end homes and office condos to hundreds of acres of land, offers evidence of the auction’s growing variety and appeal.”

January and February auctions include:

* A 72 property portfolio offered by an investment group, with properties in Chicagoland and Indiana. Properties range from a $1.2 million single family home in the Fieldstone community in Burr Ridge, Ill., to single family home sites, apartments and retail centers.
* More than 300 acres of land, including a 6.35-acres commercial development parcel in Bolingbrook, Ill. Originally priced at $8 per foot, bidding will start at $3.86 per foot.
* Seventy-five acres of residential and mixed-use development land in Yorkville, Ill., including a property located at the corner of Immanuel Road and Caton Farm Road, which features over 1,300 feet of frontage and will be sold with an opening bid of $17,500 per acre.
* A 215-acre parcel of corn crops and a 25-acre residential site with two-story house located in Bonfield, Ill., with a starting bid of $6,500 per acre. With the current demand for corn products to produce bio-fuels, the site can be maintained as is or repurposed for future development.
* Approximately 60 new homes and condos, offered by developers and private owners, originally priced from the $200,000’s to the mid $700,000’s.

Coming on December 19 is the sale of Cane Run Place, a 59,000-square-foot retail shopping center in Louisville, Ky., on behalf of Allstate Life Insurance Company. The shopping center features a 44,000-square-foot anchor space left vacant after Winn Dixie’s corporate restructuring.

“Allstate chose the auction process as a mechanism to secure a contract before the end of the fourth quarter in 2007, because they can count on a disposition of the asset while eliminating the uncertainty of a conventional sale,” said Paul Rogers, senior vice president of Inland Real Estate Auctions.

Buyers at all of these auctions are required to visit the properties before bidding, and are asked to pre-qualify for financing ahead of the auction. For further information, you may call (866) 825-4321. All the sales are subject to customary closing conditions.

One of the nation’s top auctions firms, Inland Real Estate Auctions is part of The Inland Real Estate Group of Companies, Inc. (, which comprises independent real estate investment and financial companies doing business nationwide and has been ranked collectively as one of the largest commercial real estate brokerage companies in the Chicago area (Crain’s Chicago Business, December 2006). Inland-sponsored companies also own and manage in total over 100 million square feet of commercial real estate located in 44 states in the U.S. and Canada, as well as managed assets in excess of $20 billion. The Inland Real Estate Group of Companies, Inc., is based in Oak Brook, Ill.