MPI Sells 14 Properties Through Three Recent Sealed Bid Auctions

Millennium Properties R/E, a premier boutique brokerage and property management company, announced that it brokered the sale of 14 commercial and residential properties through three recent sealed bid auctions.

One of the auctions sold four commercial condos in Bartlett, IL for more than $500,000. These condos included a 5,100 square foot turn-key office space with frontage on Bartlett Rd. and three units with potential for retail or office use. A nine property portfolio was successfully auctioned off in December. This portfolio included four residential rental properties, including a six-unit mixed-use building, a two-flat apartment building and a duplex three-bedroom condo. Also included in the portfolio were five residential land sites located in Chicago and its southern suburbs. The final auction was the sale of a custom three-bedroom single family home the White Oaks subdivision in Yorkville.

“Our recent auctions have been highly successful, consisting of a wide range of properties and we are pleased that we were able to sell all 14 properties available for sale,” said Greg Block, executive vice president of Millennium Properties. “Auctions are a great strategy to sell value-add properties, such as these properties, attracting a wide range of investors with an accelerated but thorough process that sellers appreciate. For each auction, Millennium devises a unique marketing program, designed to reach the most logical buyer for every asset.”

Millennium Properties recently concluded another sealed bid auction in January; the two auctioned properties are currently under contract including an office condominium in the Chicago Loop.