LAKE COUNTY, IN – Following a successful real estate auction which resulted in the sale of all finished lots and farmland at Doubletree Lake Estates, Madison Hawk will conduct a second auction program and sell the two final remaining parcels at the Winfield, Indiana residential and commercial development.
The parcels, which are being sold as part of Chapter 11 bankruptcy proceedings, will be offered in sealed bid format. The available properties can be sold together or separately and include:
- An existing three-story, 11,091 square-foot building on 5.34 acres originally built as a golf course clubhouse, but also used as banquet hall, restaurant and office space, and;
- A 56.6-acre developable parcel preliminarily approved for 201 multifamily units or active adult residences, eight single-family homes and a 1.9 acre commercial outlot.
The sealed-bid deadline is Wednesday, April 15, 2015, however offers may be submitted and/or accepted prior to this deadline.
Utilizing the real estate values established by the preceding auction, Madison Hawk, a national real estate firm and industry leader specializing in Structured Accelerated Sales, is offering the Clubhouse building for $850,000 and the developable land for $350,000.
“This auction will enable a user or investor to purchase a quality commercial building and a significant discount,” says Jeff Hubbard, President of Madison Hawk. “Now that the remaining lots have been sold at Doubletree East, the development that has sat idle for years will be completed adding hundreds of new potential customers to a user of the building.”
Sealed bids will be due April 15th, 2015 at 3 P.M. and should be sent to the Chicago offices of Madison Hawk Partners, LLC, Attention: Jamie Cote, 321 N. Clark Street, 5th Floor, Chicago, IL 60654.
On-site inspections for both properties are available by appointment.
For additional information on the auction or to schedule a tour, please call 800-547-1045 or visit www.madisonhawk.com/auctions/doubletree.
About Madison Hawk
Madison Hawk is a national real estate firm and industry leader specializing in Structured Accelerated Sales and Capital Market Solutions to complex real estate situations across all asset classes. The Madison Hawk team is among the most experienced in the industry, having designed and executed over $10 billion worth of commercial and residential sales across all asset classes including; apartment buildings, office buildings, industrial buildings, shopping centers, development land, condominium developments, luxury homes and other special purpose properties. www.madisonhawk.com