CHICAGO—In 2014 Sperry Van Ness launched a Chicago-based franchise, called AuctionWorks, which hosts multi-property auctions online, and with online auctions growing in popularity, the company is going to have a busy summer. It will host several upcoming online and sealed bid auctions featuring retail, mixed-use, industrial, office, income-producing residential, luxury residential, and vacant land properties located throughout Illinois and Wisconsin.

The auctions, slated for various dates throughout June, July and September, will feature more than 200 commercial and residential properties, including a 10,500 square-foot luxury estate in suburban Oak Brook; five separate portfolios comprising more than 150 income-producing, Section 8 rental properties; a former Fuddruckers restaurant; and many bank-owned properties.

As reported in GlobeSt.com, last November it held an auction with more than 90 listings and the previous June it held one with 27.

This June the firm will offer the Section 8 properties, both single-and multifamily, located in suburban Evanston, North Chicago, West Chicago, South Chicago, and the southern suburbs. AuctionWorks has scheduled two of the portfolios, comprising 110 properties and with an annual net income of $1.23 million, for a sealed bid auction on June 30, but both are available for purchase prior to that date. Two additional portfolios, comprising another 40 properties, are available off market. The fifth portfolio, comprising 8 properties in Evanston and North Chicago, is included in the firm's June 17-19 online auction.

“These portfolios offer institutional investors a tremendous investment opportunity, especially for those looking to add Section 8 housing to their investment strategy,” says Diana Peterson, president of AuctionWorks. “These single- and multi-family investments continue to produce strong returns, so auctions like this are a smart way to obtain these types of portfolios.”

Also starting on June 17 and running to the 19^th, is an auction for the Oak Brook property, a seven-bedroom, 8½-bath luxury home featuring an elevator, four fireplaces, three decks, an indoor sport court and a highly-finished 4,500 square-foot lower level. The home has a suggested opening bid of $1.59 million.

"It's hard to find homes under $2 million with these features anywhere, let alone in highly desirable Oak Brook,” says Peterson. Other Illinois residences up for auction include homes in suburban Burr Ridge, Palatine and Des Plaines, three bank-owned multifamily properties in Chicago, one with 24 units and two six-unit buildings.

Up for auction in July is an approximately 104 acre retail or industrial development site in Collinsville, IL, about 10 miles east of St. Louis. The parcel, which company officials say was previously valued at $5 million, has a suggested opening bid of $3.5 million.