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CHICAGO—The owners of the Farnsworth Corporate Center – a 38,000-square-foot office property located at 1000 & 1050 Corporate Blvd. in Aurora, Illinois – have decided on an unusual approach to a familiar problem on today’s commercial real estate landscape. With high vacancies and market rents well below their levels in 2003, (the year the owners acquired the property), they realized that continued ownership of the property was not an option, but they also wanted to take a shot at recouping some of the equity that went into buying the property. Therefore, on November 7, 2013, the property will get auctioned off to the highest bidder in a sale conducted at The Union League Club of Chicago, 65 W. Jackson Blvd., Chicago, Illinois at 11 AM. The lender-sanctioned, pre-deed-in-lieu-of-foreclosure auction will start without a minimum or reserve.

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