CHICAGO--(BUSINESS WIRE)--As the Dow Jones threatens to drop below 16,000, an important trigger indication, investors are finding revenue producing real estate to be the way to go. “You have revenue real estate, then you have revenue real estate that has proven stable even in challenging times, such as medical office properties,” said Frank Diliberto, of Chicago-based Diliberto Real Estate Services. They are conducting the auction of the Premier Medical and Professional Center.
The Premier Professional building on 19801 Governors HWY was never on the market, but hits the auction block on Wednesday, October 21. With a $273,000 NOI for 2014 and a $297,000 projected for 2015, the bids are expected to open below market, creating a solid return for the most liberal investors, and an outstanding return for more conservative investors.
“Investment properties like this are the AAA bonds of real estate,” said Diliberto. “With the current volatility in the equity markets, investors are making a change to include NNN office properties.”
The gavel will fall at the Flossmoor Country Club on Wednesday, October 21 at 1441 Western Avenue. Registration for bidders begins at 9:30 AM.
The property was built in 2010 and is home to Hart Wellness Center, Olympia Foot and Ankle Care, Ltd, Premier Orthopedic and Hand Center, LLC, St. Ignatius Surgical Services, Vasilatos Injury Law, and WCS Occupational Rehab & Sports Med Inc.
A very good investment opportunity is found through the auction process; but the auction firm warns there is an accelerated process that must be met by the bidders. Terms provide for selected dates to inspect the property or listen in on a bidder’s seminar. However, bid packages provide substantial due diligence, making the review of documents much faster than the conventional due diligence process, where buyers sometimes have to chase down information over months.
Closings provide for 45 days. Cost of admission to bid? A cashier’s check for $50,000 is required to bid, but only the high bidder’s check is deposited. Interested bidders are encouraged to obtain a bidder’s package, including the terms of sale, financials and contracts; by calling 708-361-(BIDS) 2437.
Diliberto Real Estate Services, LLC is a global leader in Real Estate Advisory and Auction Services, with transactions across America and selected global markets. Based in Chicago and Palos Heights, IL, services range from real estate and finance advisory work, to loan and real estate auctions. Solutions also include new capital formation to expand or reduce debt.