One-To-Four-Bedroom Homes in Willow Springs, IL Will Be Sold At Minimum Bids Up To 43% Below Original Prices
WILLOW SPRINGS, IL — 25 residences at Market Street West, a 60-unit luxury condominium building backing up to a forest preserve in Willow Springs, IL, will be sold during a special one-day event on Thursday, April 29th by Sheldon Good & Company, a Racebrook Portfolio Company (www.sheldongood.com).
The auction sales event is scheduled for April 29th to allow both first-time and repeat homebuyers to take advantage of the expiring Federal Tax Credit that offers up to $8,000 to purchasers who sign a contract by April 30th and close by June 30th, 2010.
The final residences in the distinctive five-story, brick stucco and stone exterior building will be sold subject to minimum bids from $129,000 — up to 43% below the original asking prices that ranged up to $542,000.
The one-day, outcry auction will be held at the Westin Lombard Yorktown Center, located at 70 Yorktown Shopping Center, Lombard, IL. Registration begins at 6:00 p.m., with the auction commencing at 7:00 p.m. The residences may be viewed during onsite inspections from April 10th through April 28th from 12:00 p.m. to 7:00 p.m. on Tuesdays, Wednesdays and Thursdays, and 11:00 a.m. to 2:00 p.m. on Saturdays and Sundays.
“The value proposition is exceedingly high as buyers have three significant economic factors working in their favor,” notes Craig Post, Director of Sales of Sheldon Good & Company.
“The decision by the developer to utilize the auction process will result in considerable savings that are passed onto the buying public though discounted auction pricing. Second, the fact that we’re holding the auction prior to the expiration of the Federal Tax Credit will enable buyers to take advantage of up to $8,000 in additional savings. Finally, because Market Street West is FHA approved, winning bidders can purchase a new home with down payments as low as 3.5%. It’s a unique scenario that should prove beneficial to both the buyers and seller.”
The homes at Market Street West feature a variety of distinctive one-, two-, three and four-bedroom floor plans — some with dens — ranging in size from approximately 950 to 2,600 square feet of living space. Standard kitchens feature designer cabinets and stainless steel GE® appliances, while elegant baths offer oak cabinets, Moen® faucets, cultured marble tops and ceramic tile floors. Some homes also offer large walk-out terraces or balconies for extended living space. In addition, homeowners enjoy an outdoor swimming pool and the convenience of enclosed parking.
“Perhaps the community’s most desirable amenity is the forest preserve located across the street,” notes Mr. Post. “Part of the I & M Canal National Heritage Corridor, the preserve offers homeowners direct access to miles and miles of mature trees, lakes and ponds, bike trails and jogging paths.”
Market Street West is also conveniently located adjacent to the Willow Springs Metra station and close to I-294 and I-55, making for an easy commute into the City.
For further information, visit http://www.sheldongood.com/willowsprings.php, call Sheldon Good & Company’s auction line at 312-373-4200, or email auctionrequest@sheldongood.com.
About Sheldon Good & Company
Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the company has sold over 40,000 properties in all asset classes via real estate auction. Our innovation is widely acknowledged by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. Owned by Racebrook Capital, a private equity firm, Sheldon Good & Company’s headquarters are located in New York City, with primary offices in Chicago, Denver, Scottsdale and San Francisco — and strategic locations nationwide.
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