The announcement of Inland Real Estate‘s March 14 auction of 13 Prairie Pointe condominiums was a good teaser, but it left out some key details, such as the units’ sizes, layouts, and minimum bid prices. For that info, I called up Ira Becker, a senior consultant at Inland, and asked him to fill in some gaps.
The chart below represents most of what I learned. The 12 finished units will have minimum bids from the $180s to $290s. The tower’s bare penthouse space will be sold in a reserve auction at a starting price in the $890s. The homes were originally priced from the $380s to $1.82 million.
Wells Fargo is participating in the sales as a preferred lender for the homes, Becker says. Buyers must close on their units by the end of April.
The units will be open to the public from noon to 3 p.m. Feb. 20, 1 to 4 p.m. Feb. 28, 5:30 to 8 p.m. March 3, 1 to 4 p.m. March 7, 5:30 to 8 p.m. March 10, and noon to 3 p.m. March 13. Registration will begin at 1 p.m. at the Hilton Chicago in the South Loop, with the auction following one hour later.