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BENSENVILLE, IL-The Village of Bensenville is auctioning off approximately 57 acres of land to spur redevelopment. Nine village-owned properties will be sold on two auction dates, including a more than 50-acre former golf course. Inland Real Estate Auctions Inc., based in Oak Brook, will auction the properties on April 23 and May 23. Village officials did not respond to requests to be interviewed.

The properties are expected to “attract national investors and motivate local developers. However, it is challenging to reach all the buyers at once, and even more challenging to meet certain timing goals,” village president John Geils says in a released statement. Village officials hope that bidders will speak with officials of their plans before the auction. The village is obligated to take the highest bid; however, the village will have to approve site plans and, in some instances, special uses and rezoning requests, says Frank Diliberto, president and CEO of the Inland company.

On May 23, the village will auction Legends of Bensenville, a former golf-course on more than 50 acres at the intersection of County Line Road and Grand Avenue. The property was appraised at $22 million and will be sold with a minimum bid of $11 million, Diliberto says. Eight village-owned properties will be auctioned April 23. A parcel with approximately 525 feet of frontage on Jefferson Street, at 800 E. Jefferson St., will be auctioned with a minimum bid of $395,000. Two properties with more than two acres, and 700 feet of frontage on Jefferson Street, at 500 County Line Rd. and 501 John Street will be sold with a minimum bid of $295,000. Three properties at the corner of Main and Center streets will be sold for a minimum bid of $225,000 and a parcel at 210 W. Irving Park Rd. will be auctioned for a minimum bid of $145,000. Two additional sites, 10 W. Brookwood and 228 W. Irving Park Rd., will be auctioned with no minimum bids, Diliberto says. “The village has committed to sell these,” he says.

The village will also be offering financial incentives, but Diliberto said exactly what type of incentives has not been decided. “There are a number of packages that the village is putting together right now,” he says. Additional properties owned by private entities may also be included in the auction, he says. The auction is expected to draw both regional and national developers, given the location in Bensenville near the O’Hare International Airport. Diliberto would not say what type of developments the parcels are best suited for, stating that they would be a good fit for all property types, such as commercial, industrial and “particularly those that thrive on transportation.”

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