Now, the 172,522-sf brick-and-timber loft-style office buildings at 300 and 320 N. Elizabeth St. could be had for a minimum bid of $5.07 million at a bankruptcy court auction Feb. 14. Not only will be buyer get the property as-is, with some further renovation required, they will take title subject to mechanic's liens and claims filed by Turner Construction and its subcontractors. Still, it could be a bargain, says the broker who is marketing the property for the bankruptcy court.
"MarchFirst did not scrimp on any item in this campus, from the deluxe design and high quality contractors to the latest in fashion for office design and telecommunication," says Millennium Properties, Inc. president Daniel J. Hyman. "This is an excellent opportunity for a purchaser to acquire a well-located and valuable asset substantially below replacement costs."
The multi-sectioned campus, ranging from one to six stories, is a little more than a mile from Metra's Ogilvie Transportation Center and Union Station commuter rail terminals. It also is near the Kennedy and Eisenhower Expressways.
Hyman is holding open houses from 9:30 a.m. to noon on Jan. 18, Jan. 23 and Feb. 5.
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