Developer Closeout Auction of Chicago Condominiums & Townhomes

Rick Levin & Associates, Inc., a Chicago-based real estate auction marketing firm, announced it will conduct two multiple-property auctions of condominiums and townhomes located in Chicago, Illinois. The auctions will take place on December 9, and December 10.

“The owner of these properties has decided to offer them via auction to eliminate the time and expense associated with a conventional marketing program,” said Rick Levin, president of Rick Levin & Associates, Inc. “They may then pass the savings along to the bidders at the auction. To show the owners’ great motivation to sell, some properties will be offered absolute, regardless of price,” he continued.

DECEMBER 9 DEVELOPER CLOSEOUT AUCTION OF 34 CONDOMINIUMS — This auction will take place at 6:30 p.m. on Tuesday, December 9, 2008 at the Hyatt Regency-McCormick Place located at 2233 S. Martin Luther King Drive in Chicago, Illinois. The condominiums are located at McKinley Park Lofts, 2323 W. Pershing in Chicago, a beautiful new loft conversion. The units have 1, 2 & 3 bedrooms and up to 2 baths & 1,540 square feet. Features include 10′ ceilings, hardwood floors & wall-to-wall carpeting, balconies, individual heating/AC, gourmet kitchen with maple wood cabinetry, granite countertops & stainless steel appliance package. Parking is available. Building features include fitness center, landscaped courtyard, on-site management office, furnished lounge and separate mailroom. The development is across from McKinley Park, close to shopping, expressways and public transportation. They are perfect for users or investors. Over 115 units have already been sold and all come from an affiliate of The Habitat Company. The units were previously priced up to $374,900 and have suggested opening bids from $85,000. Twelve condominiums will be sold absolute, regardless of price. Open houses are scheduled from 11 a.m. to 1 p.m. on November. 23, 30 and December 7 and from 4 to 6 p.m. on December 1. The broker co-op is 3%.

DECEMBER 10 DEVELOPER CLOSEOUT AUCTION OF 10 TOWNHOMES AND 12 CONDOMINIUMS — The auction will take place at 7 p.m. on Wednesday, December 10, 2008 at the Ramada-Lake Shore located at 4900 S. Lake Shore Drive in Chicago, Illinois. Jazz on the Boulevard, an awardwinning 137 home development by an affiliate of the Thrush Companies, is located on historic Drexel Boulevard n the heart of Kenwood in a park-like setting (41st Street & Drexel). The 10 condominiums, some flats and some duplexes have 1, 2 & 3 bedrooms, up to 2 baths and up to 1,723 square feet. Previously priced up to $363,000, the condos have suggested opening bids from $130,000. The 13 townhomes have 2 & 3 bedroom, up to 2 baths and up to 2,167 square feet. The townhomes were previously priced up to $625,000 and have suggested opening bids from $150,000. Seven properties are to be sold absolute, regardless of price. Scheduled open houses are from 2 to 4 p.m. on November. 23, 30 & December 7; and from 4 to 6 p.m. on December 4. The broker-co-op is 2.5%.

Complete Bidder’s Information Packages are available at the scheduled open houses. A cashier’s check, as earnest money, is required to bid. For a color brochure on the auction, call Rick Levin & Associates, Inc. at 773-252-4500, 866-655-4500 (toll free) or visit their Website at http://www.ricklevin.com.