Mark One outbid a dozen buyers for the Deerwood Park propertyand is considering various uses for the building. The opening bidbegan at $1.1 million. Inland Real Estate Auctions of Oak Brook, ILorchestrated the transaction.
Allstate Investments LLC portfolio manager John Carbone says theauction "helped us to receive a fair price for the property, whilemeeting our main goal of completing the sale in a specific timeframe."
Frank Diliberto, senior vice president, Inland Real EstateAuctions Inc., says "it is becoming more widely known that auctionswill attract greater interest from a larger audience thanconventional marketing." He adds, "The auction process requiresonly eight to 10 weeks, which is a major consideration whencost-of-carry is an issue."
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