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SOURCE: Auctions by ATG
The online and live commercial real estate auction features a high-tech office park/data center, while other properties to be auctioned include retail, mixed-use, multi-family, development sites, flex and vacant land. Most of the properties are being sold absolute; many are bank-owned.
Chicago, IL (PRWEB) January 22, 2013
Auctions by ATG will host a commercial real estate auction Februrary 13 featuring Arlington Ridge, a former Motorola corporate campus in Arlington Heights. The sale’s other offerings include mixed-use, retail, multi-family, and flex buildings, as well as development sites and vacant land. Seven of the twenty-two properties currently offered are bank owned. Buyers can bid live or online for these Chicago-area properties, most of which are being sold absolute.
“This will be a significant auction,” said Diana Peterson, executive vice president of Chicago-based Auctions by ATG. “The highlight is the Arlington Ridge office park/data center. It was built-out with a high-capacity power system to support Motorola’s operations, so it will be very attractive to high-tech companies that want the existing infrastructure. Each building has heavy power, access to fiber, individual HVAC and electrical, and is 100 percent sprinklered. Power is fed from two Com-Ed substations with a manual throw. The buildings are linked with four-inch data conduit and some of them have connector hallways and multiple entrance points, so they can accommodate multiple tenants or a large user.”
Arlington Ridge is an eight-building, single-story office park located parallel to Route 53 and south of Dundee Road in Arlington Heights with excellent frontage and visibility from Route 53. The seven available buildings range from 8,304-to-16,718 square feet and are available for pre-auction bulk purchase. They are being offered absolute at the commercial real estate auction with minimum bids ranging from $49 to $90 per square foot. Each building has been substantially improved with upgraded fire systems and a new parking lot, building entrances, signage and landscaping. One of the buildings has more than $2.5 million in recent tenant improvements. Two of the buildings are fully leased and two are partially leased.
The Feb. 13 commercial real estate auction is a great opportunity for commercial property investors and users. “It’s not surprising that once we launched Auctions by ATG’s online bidding website and service last June, we began attracting owners of a large number of commercial and bank-owned assets,” Peterson said. “Very few firms locally offer commercial auctions. Even fewer provide online bidding websites. Of those that do, none are as transparent and robust as ours. We’re thrilled to offer investors what the market is demanding – a totally transparent online bidding experience with the ability to follow and participate in the auction in real-time online.”
Using the online bidding service, http://www.atgbidder.com, bidders can access research and analytical tools to evaluate properties prior to auction. On auction day, registered bidders can view both live-streaming video and a real time, live bidcast on the online bidding website, providing them the opportunity to observe the auction and electronically raise their bids. Buyers unable to participate can confidentially submit a maximum bid to the online bidding service and authorize a bidding service agent at the auction to submit bids on their behalf up to their maximum.
The live and online auction, to be held at 9 a.m. Wednesday, Feb. 13, at 1 South Wacker Drive, 24th Floor, Chicago, will feature 90,929 square feet at the Arlington Heights office park; multifamily and development sites in Chicago and Franklin Park; a flex (office/warehouse) building in Chicago; retail/office buildings in Des Plaines, South Holland, Westmont and Chicago; mixed-use properties in Chicago, Aurora Berwyn and Westmont; and vacant land in Matteson, Flossmoor and Bartlett.
“The diversity of properties offered in our Feb. 13 auction appeals to our large network of local investors as well as our growing pool of buyers nationwide that can now bid online in real-time without being present in Chicago,” Peterson said. “This auction presents a great investment opportunity for private equity and other large investors, especially with our pre-auction bulk sale opportunities. Smaller investors and the general public will also find many quality properties at favorable price points.”
The next auction in the line-up for Auctions by ATG will be a live and online residential property auction February 27, 2013.
Interested parties should visit http://www.auctionsbyatg.com to register to bid and join the mailing list to receive upcoming auction notices.
Launched in 2011, Chicago-based Auctions by ATG, a provider of live and online real estate auctions, is a wholly-owned subsidiary of Chicago-based Attorneys’ Title Guaranty Fund, Inc.
About Auctions by ATG
Auctions by ATG, a wholly-owned subsidiary of Chicago-based Attorneys’ Title Guaranty Fund, Inc., is a provider of live and on-line commercial real estate auctions and residential auctions. To sellers Auctions by ATG provides a more cost effective, quick and professional auction platform than its competitors. To investors and home buyers, Auctions by ATG offers property at attractive prices, a professional and transparent bidding process, and access to substantial property and title research.
For more information about Auctions by ATG, visit the firm’s website, http://auctionsbyatg.com/.
To learn more about Attorneys’ Title Guaranty Fund, Inc., please visit http://www.atgf.com/.
For more information or to schedule an interview, contact Mark Thomton at (312) 267-452 or mthomton(at)taylorjohnson(dot)com.
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