Hilco Real Estate Auctions, LLC Announces Multi-Property Auction for a Chicago Bank

Multiple bank-owned commercial and residential properties across Chicagoland will be auctioned on December 18^th

NORTHBROOK, Ill.--(BUSINESS WIRE)--Hilco Real Estate Auctions, LLC (www.HilcoReal.com ) announced an upcoming auction on December 18, 2012 for several bank-owned properties consisting of a 9-unit strip mall in Hanover Park; a 3-flat residential rental in Riverdale; a 6-unit mixed use facility in Chicago and many more.

“We are using the auction as a way to accelerate the sale of these properties. The auction not only provides us with a quick sale but it also assures us that the properties will close. To entice potential buyers even more, we’re offering seller financing to qualified individuals.”

These properties offer great visibility, central locations, easy access to major interstates and mass transit and other great qualities making this auction an outstanding opportunity. The suggested opening bids, starting as low as $40,000, should also be quite alluring to interested buyers.

The auction event will be held on December 18 at the Sheraton Chicago O'Hare Airport Hotel, 6501 N. Mannheim Road, Rosemont, IL 60018. Registration will start at 6pm the auction will commence at 7pm.

Interested buyers can view the properties by attending one of our on-site inspections scheduled on Wednesdays November 28^th, December 5^th & 12^th.

R. Scott MacNeil, VP and Chief Commercial Lending Officer for Devon Bank noted, “We are using the auction as a way to accelerate the sale of these properties. The auction not only provides us with a quick sale but it also assures us that the properties will close. To entice potential buyers even more, we’re offering seller financing to qualified individuals.”

Michael Fine, CEO of Hilco Real Estate Auctions added, “Auctions like this are great opportunities for owner occupants and investors to name their price on bank-owned properties with great upside potential. Auctions continue to be the number one asset disposition strategy for banks across America and Hilco is a leader in this industry.”

For more information about bid qualifications and further details about this property or other properties available at auction, please contact Michael Fine at [phone] or visit www.HilcoReal.com.

About Hilco Real Estate Auctions, LLC: Hilco Real Estate Auctions, LLC, a unit of Hilco Trading, is headquartered in Northbrook, Illinois (USA). Hilco Real Estate Auctions, LLC (www.HilcoReal.com) is a national provider of real estate auction services combining high-touch, open-outcry auctions with technologically-advanced online auctions, providing buyers and sellers with unmatched expertise along with efficiently-managed and completely transparent sale methodologies for conducting real estate transactions.