Millennium Properties Sells 71 Properties at Recent Auction

Millennium Properties R/E recently held its spring auction, successfully selling 71 properties in Illinois, Indiana and Arizona. The extremely well-attended auction included a variety of investment opportunities for bidders including deeded parking spaces, flex industrial buildings, gas stations, apartment buildings, note sales, development sites as well as single-family residences and condos.

Millennium auctioned off 63 single, tandem and handicapped parking spaces, located in a residential condo tower in the Loop. Located at 235 W. Van Buren, these spaces were largely sold as individual spaces with several investors purchasing multiple spaces. Some tandem spaces had winning bids of $37,000.

Millennium Properties also sold nine bank-owned properties at the auction. These properties include several land sites, an industrial flex building in Schaumburg, two leased residential duplex units in the suburbs of St. Louis, and a 20 acre land site in Arizona. A 39,600 square foot commercial development site in the far northern suburb of Hainesville had a winning bid of $205,000.

"We were very pleased with the turnout and our clients were very pleased with the results of our recent auction,” said Daniel J. Hyman, president of Millennium Properties. “In addition to selling 71 properties at the auction, we sold four properties in July to buyers who were unable to attend the live auction.”

“With such a wide variety of properties, we attracted interest from a very large pool of buyers,” said Greg Block, executive vice president of Millennium Properties. “We are pleased to announce that we are accepting properties for our fall auction which is currently scheduled for October.”