- a townhouse in Edgewater that was priced on the conventional real-estate market at $1.1 million (Levin’s suggested opening bid on April 10th: $535,000);
- a Humboldt Park three-flat whose price was $759,000 (minimum bid: $279,000);
- an Oak Park single-family home whose price was $498,000 (minimum bid: $238,000);
- a Northbrook townhouse whose price was $419,000 (minimum bid: $175,000);
- a townhouse in west suburban Geneva whose price was $349,000 (minimum bid: $180,000).
If there is nothing at this auction that works for you, don’t worry: Levin expects to get many more properties in the next several months. “We used to auction houses for couples who were divorcing, or the estates of homeowners who died—things like that,” Levin says. “Now the foreclosures are taking over.” Levin estimates that they account for about 60 percent of his firm’s inventory. And if you do buy a house at this or any other auction, I’d love to hear your story. E-mail me at email@example.com.
4 days ago