Sheldon Good & Company to Auction 235-Acre Waterfront Development Site in Baja California, Mexico; Seller Discloses Reserve Price of $10 Million

Sheldon Good & Company Auctions, LLC (www.sheldongood.com), the nation’s largest real estate auction company, in one of the most exciting offerings of emergent destination- oriented recreational properties, today announced that it has been retained to auction a 235-acre beachfront development site in Bahia de Los Angeles (Baja, California, Mexico). In making the announcement, auction company officials also announced the seller’s reserve price of $10 million (USD).

This means that the seller is committed to selling the property upon receipt of a conforming bid at or above the $10 million figure and according to the terms to be found in the purchase and sale agreement contained in the bidder’s information packet. Attractive seller financing is also being offered.

Every indication is that Bahia de Los Angeles will be key to real estate development in central Baja. Reasons why: (1) Proximity to the U.S.; (2) Nautical Ladder; (3) Goose Neck, located at the Baja’s narrowest point; (4) Electricity; (5) Commitment to Develop; (6) Huge naturally protected bay.

With new electricity and street lighting just installed, the town is literally “turning on the lights” as a hot new high-growth destination. A new cross-peninsula 80-mile highway will connect the cities of Santa Rosalillita and Bahia de Los Angeles. This already completed 80-mile road is expected to be a tremendous engine of growth for the region. Additionally, the road construction and upgrades will allow for cross-peninsula boat delivery.

According to Steven L. Good, Chairman and CEO of Sheldon Good & Company Auctions, Inc., “For the visionary developer and investor, Bahia de Los Angeles offers the ideal opportunity. Located on Baja California’s east coast, Bahia de Los Angeles is known for its stark beauty and commanding views of the Sea of Cortez. The Mexican government envisions Bahia de Los Angeles to be one of the lead 11 marina cities to be included in its mega-project — Nautical Ladder — Sea of Cortez.”

Mr. Good said that the Nautical Ladder Project envisions attracting thousands of boats and tourists annually up and down the Baja coast through the development of a ‘ladder’ of marinas, hotels, and tourist sites located within a day’s sail of one another. The vision for this project is a residential development as the acreage rises from the sea to the top of a former gold mine with a heights ranging from fifty to one hundred and twenty- five meters (164 to 410 feet). Therefore this property will provide spectacular views of the Sea of Cortez and the town of Bahai de Los Angeles. Mountaintop and terraced lots will provide unparallel unobstructed views for residential properties.

“This 235-acre tract is one of the largest undeveloped, waterfront, single ownership parcels in the area,” Mr. Good said. “If you have a vision for anticipating opportunity in a place that’s definitely on the move, you owe it to yourself to consider this tremendous recreational opportunity.”

“Our auction allows the astute investor an opportunity to purchase the property at your own price. Plus the auction affords you with perfect timing to plan the building of a new development or any other appropriate use,” Mr. Good said.

Mr. Good said, “The property offers commanding ocean panoramas and is perfectly situated along the Sea of Cortez in the City of Bahia de Los Angeles and the 80-mile highway that connects it to the Pacific Coast City of Santa Rosalillita.”

The auction deadline for this sealed bid event is (4 p.m. CT) on February 20, 2008. Bids should be sent accompanied by a certified or cashier’s check for $300,000 (USD): Sheldon Good & Company, Attn: Bahia de Los Angeles Auction Project Manager 333 W. Wicker Drive, Chicago IL 60606.

Inspections are by appointment only and need to be made at least three (3) days prior to the showing date. Inspections dates are Jan. 24th & 31st and Feb. 5th & 12th beginning at 10:00 a.m.

A full day is recommended for the viewing of this property along with investigating the opportunities in Bahia de Los Angeles. We suggest flying in the night before and departing in the late afternoon. Tours will consist of an orientation of the town, a drive to the property, a hike to the plateau for the spectacular views, then down to the beach for a stroll along the water. Viewing of the property from the Sea will also be available following the ground tour. This is private property and undeveloped land that must be carefully traversed so hiking shoes or boots and long pants are recommended. It is mandatory for appointments to be made at least 72 hours in advance.

Important Note: This is private property and undeveloped land that you have to be careful when traversing. We recommend hiking boots and long pants. Our property tours will begin with an orientation of the town then a drive to the property and a hike to the plateau for the most spectacular views available in town. Then a hike down to the beach and stroll along the water. Viewing the property from the Sea will also be available following the ground tour. It is important and mandatory to make an appointment for the inspection ahead of time.

About the Sea of Cortez

The Sea of Cortez, also known as the ‘Gulf of California’, is one of the world’s most beautiful places. From the abundance of sea life to the clarity of the waters, the Sea of Cortez is host to amazing fishing, scuba diving, beautiful views, and more. Legendary diver Jacques Cousteau once described the Sea of Cortez as the “world’s aquarium” and the “Galapagos of North America.”

The Sea of Cortez is bordered by the states of Baja California, Baja California Sur, Sonora, and Sinaloa. To the north it is part of the Sonoran landscape, and creates amazing vistas where open sand suddenly spills into a beautiful, sparkling coastline. The Sea of Cortez currently plays an important role in one of the most interesting ecospheres in the world, and with everything that is happening in the region, it stands to play an amazingly pivotal role in what happens to the area next.

Traditionally the Sea of Cortez had been a commercial fishing zone. With the growth of tourism in the last 20 years attentions have been turned toward sport fishing and boating, scuba diving, and the like. In the Sea of Cortez’s future is the Mexican government’s Nautical Ladder Project, which seeks to draw more pleasure boaters and fishermen to the area. There is a noticeable boom in construction up and down the coasts.

About the La Escalera Nautica and Local Development

La Escalera Nautica is a 1.9 billion dollar project to develop tourism in Baja California, Mexico. It entails building a “ladder,” or nautical route, of marinas and tourist sites surrounding both coasts of the Peninsula, as well as the West Coast of the mainland. Construction of the new marinas and roads has been underway for some time now.

The Federal Tourism Promotion Fund (Fonatur) has constructed an 80-mile ‘land bridge’ from Santa Rosalillita (on the Pacific side) to Bahia de Los Angeles (on the Sea of Cortez side) to facilitate travel, commerce and yacht delivery (up to 55 feet in length) into the calm waters of Baja’s eastern side. This 80-mile road is expected to be a tremendous engine of growth for the region. With new electricity and street lighting just installed, the area is literally “turning on the lights” as a hot new high-growth destination.

Mexico’s past President, Vicente Fox, considered the tourist industry a “passport to modernity” and said the Escalera Nautica represented a crucial and strategic megaproject for the development of the country that would make possible decades of tourist development for the northwestern region of Mexico.

Please call: US 01-312-373-4300 / Mexico 52-81-8356-0899 to arrange an appointment, air charter, local hotels or to obtain contact information.

About Sheldon Good & Company Auctions LLC

Sheldon Good & Company (www.sheldongood.com), America’s Real Estate Auctioneer, in the past has been rated as the largest real estate auction company in the United States by a number of prestigious publications. The company has aggregate sales of over $9 billion. For further information, please call Sheldon Good & Company at 1-312-373-4300, or log onto www.sheldongood.com.

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