CHICAGO—Earlier this year, the national real estate brokeragefirm Sperry Van Ness launched a Chicago-basedfranchise, called AuctionWorks, and the newventure will host a multi-property auction online from June 23 tothe 25th. Potential buyers will have the opportunity to bid onlineor submit pre-auction offers for a diverse collection that includesboth luxury homes and a set of bank-owned properties.
“Auctions have become a popular choice for sellers of luxuryproperties who are seeking more control over the sale process in atime when traditional sale contracts often fall apart due tofinancing and other contingencies,” said Diana M.Peterson, president of AuctionWorks, in a preparedstatement. She was not available for comment yesterday, butGlobeSt.com will provide an update shortly.
The 27 properties up for bid will include single-family,multi-family, mixed-use, office, industrial, retail and vacantland. Two luxury homes in Chicago's Lincoln Park and Peterson Parkneighborhoods are included, and six of the properties arebank-owned and will be sold absolute to the highest bidder,regardless of price.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
