Inland Real Estate Auctions, Inc. has announced the auction of a model home located on the Ravine in East Highland Park, Ill. originally priced at nearly $4 million. The auction of the six-bedroom home, which will be sold subject to a minimum bid of $2.45 million, is part of the bank-ordered sale of a portfolio of foreclosed residential properties.

The multi-million dollar home will be auctioned Dec. 9. Other residential properties in the portfolio will be sold Dec. 10 and include a 2,600-square-foot, eighth-floor penthouse condominium in Lincolnwood, Ill. with panoramic views of downtown Chicago, originally priced at $429,900 and sold subject to a minimum bid of $235,000. A newly-built three-bedroom single-family home in west suburban Plano, originally priced at $193,000, will be sold with a minimum bid of $125,000.

Open houses for the properties will take place in November. Interested bidders can contact Inland Real Estate Auctions at (630) 990-5353 to obtain the open house schedule and the bidder’s information package along with the terms of sale.

Auction info www.inlandgroup.com/ireac/

Posted: 11|11|08 at 11:48 am. Filed under: US Property.