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18 LUXURY CONDOS OVERLOOKING SEVEN BRIDGES GOLF COURSE OFFERED IN DECEMBER 16 CLOSE-OUT AUCTION

Monday, November 30, 2009 / CAHN Communications

SHELDON GOOD & COMPANY

A Racebrook Portfolio Company

333 West Wacker Drive, Suite 400

Chicago, IL  60606

 

Release Date:           November 24, 2009

Media Contact:         George Cahn: gcahn@cahncomm.com

                                    CAHN Communications

                                    O: (201) 876-3100

                                    C: (201) 988-2408

                                   

 

18 LUXURY CONDOS OVERLOOKING SEVEN BRIDGES GOLF COURSE

OFFERED IN DECEMBER 16 CLOSE-OUT AUCTION

 

One-, Two- And Three-Bedroom Residences

Will Be Sold At Minimum Bids Up To 50% Below Original Prices

 

WOODRIDGE, IL -- The final 18 residences at Seven Bridges, a 140-unit luxury condominium building overlooking the Seven Bridges Golf Club, will be sold at a close-out auction on Wednesday, December 16th  by Sheldon Good & Company (www.sheldongood.com).

The accelerated sales event is the second phase of a two-part series which started with a July 26th  auction also conducted by Sheldon Good & Company that resulted in 35 sales.  Based on the success of that one-day campaign, the developer, RTG – Seven Bridges, LLC, commissioned the national real estate auction company to execute a second program to complete sales at the building.

The final 18 homes in the 12-story, curved-glass tower in Woodridge, Illinois will be sold subject to minimum bids from $125,000 -- up to 50% below the original asking prices which ranged up to more than $500,000.

The one-day, outcry auction will be held at the Lisle Hyatt, located at 1400 Corporetum Drive, Lisle, Illinois.  Registration begins at 6:00 p.m., with the auction commencing at 7:00 p.m.  The residences may be viewed on November 29th and December 5th, 6th, 12th and 13th from 12:00 to 3:00 p.m. and December 9th and 15th from 3:00 to 6:00 p.m. 

 “We haven’t seen a multi-phase auction campaign in this marketplace before, but the developer recognized the potential for such a program which was validated by the success of the first auction,” notes Craig Post, Director of Sales of Sheldon Good & Company.

“Rather than continuing on with a protracted conventional marketing and sales program, RTG – Seven Bridges, LLC opted for a second accelerated sales event which will close out the building and result in considerable savings that are passed onto the buying public though discounted pricing.  It also provides further evidence that in today’s climate, well-conceived and executed real estate auctions can be effective during various stages of a program, from grand opening a building to accelerating an existing campaign to a closing out a property.”

Buyers at the auction at Seven Bridges can choose from among six distinctive one-, two- and three-bedroom floor plans -- some with dens -- ranging in size from approximately 1,018 to 1,759 square feet.  Kitchens feature custom cabinetry and granite countertops, while spacious master bedrooms offer luxurious master baths. 

“Every home boasts stunning views maximized by an abundance of windows and a private balcony or terrace,” points out Mr. Post.  “In addition, homeowners enjoy such upscale building amenities as an elegant lobby with a 24-hour doorman, indoor parking, rooftop terrace with adjacent party room and an outdoor pool with expansive sundeck.”

Seven Bridges is within walking distance of the new Main Street at Seven Bridges which offers fine dining, shopping and entertainment, while downtown Chicago is easily accessible via Metra in neighboring Lisle.

For further information, visit www.sheldongood.com/sevenbridges.php, call Sheldon Good & Company’s auction hot line at 312-373-4300, or email auctionrequest@sheldongood.com.  Broker participation is welcomed.

           

About Sheldon Good & Company

Sheldon Good & Company (www.sheldongood.com) is the nation’s premier real estate auction firm. Founded in 1965, the organization is frequently acknowledged as the innovator and leader in real estate auctions by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. The firm has sold more than 40,000 properties in all asset classes with sophisticated accelerated marketing programs and superior real estate expertise. Owned by Racebrook Capital, a private equity firm in New York, Sheldon Good & Company has regional offices in New York, Chicago and San Francisco.  Sheldon Good & Company has been rated the premier real estate auction company by a number of prestigious financial publications. The company has aggregate sales of over $10 billion.

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