FIRST MIDWEST BANK REO PORTFOLIO

Online bidding on this auction starts Tue, Feb 28

BANK DIRECTED REO AUCTION OF 25+ PROPERTIES

Includes Absolute Offerings

Office, Commercial, Industrial, and Mixed-Use Buildings  
Commercial and Residential Land

Illinois, Indiana and Wisconsin 

On-Site Inspections:

Tuesday, February 14 & 21:

Rock Island: 10 am - 12 pm

East Moline: 1 pm - 3 pm

Wednesday, February 15 & 22:

Blue Island: 10 am - 12 pm

Indian Head Park: 1 pm - 3pm

Thursday, February 16 & 23:

Lake Barrington: 9 am - 11 am

Monee (Governors Hwy): 10 am - 12 pm

Glenwood: 1 pm - 3 pm

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Extended Bidding: i
Property Location: 12128 S Western Avenue, Chicago, IL 60406
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Property Description:

Ideal Owner-Occupier Office & Retail Building on South Western Avenue
High Traffic Neighborhood Retail Area Ideal for Local Businesses

Appraisal Value: $150,000
Low Suggested Opening Bid: $80,000

Building Ownership Opportunity for Small Business Owners 

Extended Bidding: i
Property Location: 465 Avenue of the Cities, East Moline, IL 61244
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Property Description:

Multi-Tenant Income-Producing Medical/Office Building
Long Term Lease With GSA (Veterans Administration)
Stabilized Income Stream with Value-Add Potential 

Approx. 3-Miles East of I-74 on High Traffic Avenue of the Cities (Frontage Road) 

Appraised Value: $1,900,000
Suggested Opening Bid: $950,000

Extended Bidding: i
Property Location: 349 West 195th Street, Glenwood, IL 60425
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Property Description:

Two Light Industrial Buildings with Sizable Yard
Bldg 1 - 7,200 SF Warehouse with 2 Drive-In Doors 
Bldg 2 - 5,732 SF Office/Warehouse Recently Renovated 

Easy Access to I-294, I-94, I-80 & I-57 

Previous List Price: $325,000
Suggested Opening Bid: $200,000

Extended Bidding: i
Property Location: 6950 Wolf Rd Unit C, Indian Head Park, IL 60525
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Property Description:

Ground-Floor Commercial Condo Perfect For Small Business Owner

Upscale Mixed-Use Building 1/2 Block from I-294
Located in Indian Head Park (Countryside) - Cook County

Previous List Price: $289,000
Suggested Opening Bid: $150,000

 

 

Extended Bidding: i
Property Location: 28662-28668 West Northwest Highway, Lake Barrington, IL 60010
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Property Description:

Income-Producing Office & Retail Buildings in Upscale Lake Barrington

11,300 SF Retail Bldg With Existing Tenants
11,200 SF Office Bldg With Existing Tenant
Stabilized Immediate Income Stream with Tremendous Value-Add Potential

Located On Well-Traveled Northwest Highway in Commercial/Retail Area
Nearby Retailers on Northwest Highway:
Ace Hardware, Dunkin Donuts, Jewel-Osco, McDonald's, Panera Bread, Walgreen's

Appraised Value: $1,200,000
Suggested Opening Bid: $500,000

 

 

Extended Bidding: i
Property Location: 25861 South Governors Way, Monee, IL 60449
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Property Description:

Income-Producing Mixed-Use Property 
Two Long Term Tenants: Cliff & Tommy's Restaurant and Mulligan's Pub 

Four Ground Floor Commercial/Retail Units and Two Apartments
Immediate Income Stream with Value-Add Potential
Located on Governors Highway - Primary Retail Stretch in Monee

Previous List Price: $330,000
Suggested Opening Bid: $150,000

 

Extended Bidding: i
Property Location: 730 31st Avenue, Rock Island, IL 61201
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Property Description:

Automotive Repair & Light Industrial Building with Sizable Yard

17,147 SF Bldg (with 3,300 SF Office)
3 Drive-In Bays w/ 18' Clear Height
2,356 SF Additional Storage Bldg 

Ideal Property Ownership Opportunity for Automotive Business Owner

Appraised Value: $90,000
Suggested Opening Bid: $40,000

Extended Bidding: i
Property Location: 321-323 West Rollins Road, Round Lake Beach, IL 60073
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Property Description:

Prime 0.53 Acre Commercial Redevelopment Site Along Busy Retail Corridor
Across from Eagle Creek Shopping Center
High-Traffic Retail Trade Area with 20,000+ VPD along Rollins Rd
Two Existing Buildings (Tavern & Apartments) Provide Immediate Income Potential
Zoned C-3 (General Bus.) & R-3 (Single-Family Res.)

Previous Listing Price: $235,000
Suggested Opening Bid: $100,000

Extended Bidding: i
Property Location: Lot 1-4 Espalande Drive, Algonquin, IL 60102
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Property Description:

2 Development Lots Randall Road 
High Traffic Retail Trade Area - 41,400 VPD

Adjacent to Algonquin Commons (Randall Road & Harnish Drive)
Algonquin Commons Anchor Tenants: Dick's Sporting Goods, Target, Trader Joe's, Wal-Mart
Significant Value-Add Development Opportunity

Previous List Price: $1,070,000
Suggested Opening Bid: $325,000

 

 

Extended Bidding: i
Click to view Item Photo Gallery

Property Description:

0.61 Acre Residential Lot on Charming & Secluded Tree-Lined Street

Appraised Value: $189,900
Suggested Opening Bid: $25,000

Less Than 1/4 Mile from I-294

Extended Bidding: i
Property Location: NWC South Briggs Street and Parkview Lane, Lockport, IL 60441
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Property Description:

2.85 Acre Parcel NWC of Briggs Street & East Parkview Lane
Over 650' of Frontage
Adjacent to Multiple Subdivisions
Zoned C-2 Community Commercial
Ideal Mixed-Use Community Development Site 

Appraised Value: $180,000
Suggested Opening Bid: $120,000

Extended Bidding: i
Property Location: Lakewood, IL 60142
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Property Description:

14.92 Acres Approved for 37 Single-Family Lots  
Previously Approved as Cambria Villas Subdivision
Northwest Corner of Haligus Road and Woodbine Lane

Appraised Value: $185,000
Suggested Opening Bid: $75,000

 

Extended Bidding: i
Property Location: Prairie Avenue & West North Street, Manhattan, IL 60442
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Property Description:

Mixed-Use Development - PUD Zoning
Lots 1 and 2 on NEC Corner of Prairie Avenue & West North Street
West North Street Serves as Primary Retail Stretch in Manhattan

Appraised Value: $28,000
Suggested Opening Bid: $13,000

 

Extended Bidding: i
Property Location: Harlem Avenue and Monee Manhattan Road, Monee, IL 60449
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Property Description:

3+ Acre Rural Lot Ideal for Single-Family Estate  

East of Harlem Avenue in between Monee-Manhattan Road & Whispering Hills Lane
Located Approximately 3.3 Miles West of I-57 

Appraised Value: $50,000
Suggested Opening Bid: $25,000

Extended Bidding: i
Property Location: 4700 W Court St, Monee, IL 60449
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Property Description:

11.5 AC Agricultural Land on West Court Street

Highest & Best Use May Include Single-Family Housing

Future Single-Family Home Development

Zoned C1 (Commercial) & R1 (Single-Family Residential)

Residential Subdivisions Located North & South of W Court St 

Previous List Price: $92,000
Suggested Opening Bid: $45,000

Extended Bidding: i
Property Location: Smith Drive & Martin Avenue, Oregon, IL 61061
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Property Description:

19.85 Acres Approved For Settler's Ridge Residential Subdivision
47 Approved Lots - East of South Daysville Road

Ideal Rural Residential Development with Lots Averaging .42 Acres

All utilities in place, including door to door fiber optic

Property is scheduled for TIF

East of Rock River, East of Daysville Road On Smith Drive, Woods Drive, Martin Avenue
SE of Napa Auto Parts at SE Corner of East Washington/Daysville 
 

Appraised Value: $460,000
Suggested Opening Bid: $100,000

 

Extended Bidding: i
Property Location: 16230 S 107th Ave , Orland, IL 60462
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Property Description:

Well-Located 1+ Acre Industrial Parcel with Proximity to I-80 & I-355
-Perfect for Equipment & Vehicle Storage
-Located in Strong Industrial Park Among Newer Buildings
-Village Previously Approved Construction of 11,400 SF Industrial Building
-Fully Improved Land

Appraised Value: $100,000
Suggested Opening Bid: $50,000

 

 

Extended Bidding: i
Property Location: 205 W Glade St, Palatine, IL 60067
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Property Description:

ABSOLUTE AUCTION

-0.19 Acre Residential Lot along Salt Creek
-Nearby schools include Stuart R Paddock School, Pleasant Hill Elementary School, as well as William Fremd High School
-Within Walking Distance to Downtown Palatine

Appraised Value: $17,000
Suggested Opening Bid: $100.00 (One Hundred Dollars)

Extended Bidding: i
Property Location: 210 Pleasant Hill Boulevard, Palatine, IL 60067
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Property Description:

ABSOLUTE AUCTION

0.30 Acre Residential Lot along Salt Creek
Situated within Established Subdivision
1 mile from William Fremd High School

Appraised Value: $18,000
Suggested Opening Bid: $100.00 (One Hundred Dollars)

Extended Bidding: i
Property Location: Lot 26 Giant Oak, McHenry, IL 60051
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Property Description:

Secluded 2.25 AC Residential Lot in McHenry County
-Located Approx. 200' SW of Hickory Lane & Giant Oaks Road
-Maturely Wooded Lot in Natural Country Setting
-Offers Privacy and Seclusion
-Neighborhood Allows for Horses

Previous List Price: $45,000
Suggested Opening Bid: $15,100

Extended Bidding: i
Property Location: Castle Road, Woodstock, IL 60098
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Property Description:

THIS PROPERTY HAS BEEN SOLD!

 

ABSOLUTE AUCTION 

Approximately 3.95 Acres
Northeast of Cobblestone Way & Castle Road - Woodstock, IL

Well-located Commercial/Industrial Parcel
Near Intersection of IL-47 and US-14
Near Wal-Mart, Super 8, Mercy Woodstock Medical Center, Menard's, Kohl's, Pizza Hut, Reichert Chevy Buick, Harley-Davidson, Willow Brooke Apartments

Suggested Opening Bid: $100.00 (One Hundred Dollars)

*Portion of Parcel is Wetland*

Extended Bidding: i
Property Location: Route 173 & Bethesda Boulevard, Zion, IL 60099
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Property Description:

Sizable 1.45 AC Corner Residential Lot
Located on NE Corner of Bethesda Boulevard & IL-173 (21st Street)
Neighboring Businesses: Applebee's, Dunkin Donuts, Jewel, Walgreen's
Zoned R-8; City Open to Multi-Family or Low Density Commercial

Appraised Value: $32,000
Suggested Opening Bid: $10,000

Extended Bidding: i
Property Location: 6120 West 125th Street, Crown Point, IN 46307
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Property Description:

19.85 Acres Undeveloped Residential Land
Located on West Side of Burr Street & North of 125th Avenue

Immediately North of Lemon Lake County Park
Less Than 1.25 Miles Northeast of Cedar Lake
 

Previous List Price: $475,000
Suggested Opening Bid: $150,000

Extended Bidding: i
Property Location: 1350 West 73rd Street, Merrillville, IN 46410
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Property Description:

47 Acres on Lincoln Highway (73rd Avenue)
Ideal for Subdivision Expansion, Senior Living or Mixed-Use Community
 

Innsbrook County Club Adjacent to Northwest
Towne Center Senior Living Adjacent to East 
Homer Iddings Elementary School 1/2 Mile East 

Previous List Price: $245,000
Suggested Opening Bid: $100,000

 


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