Inland Real Estate Auctions, Inc. will auction a 4.6 acre industrial park in Detroit, Mich., including seven vacant lots and seven industrial buildings with a total square footage of 88,862 square feet.

The industrial park is located at 8100-8300 Lyndon Avenue, near the intersection of Interstate 96 and Grand River Avenue, adjacent to a residential neighborhood. The seven industrial buildings are currently under a 15-year lease at $60,000 per year.

“This is a versatile piece of industrial property in a city known for industry,” said Paul Rogers, a senior vice president of Inland Real Estate Auctions. “This auction represents an ideal investor or user opportunity.”

The auction is scheduled for June 6 in Detroit. At the same time, Inland Real Estate Auctions will also auction 14 one-acre home sites and a brand-new model home located in the Oak Ridge development in Oakland County, Mich. At least five of the home sites, originally priced as high as $95,000, will be auctioned without reserve and sold regardless of price. The model home, originally priced at $479,900, will be sold subject to a minimum bid of $295,000.

“Real estate auctions are continuing as a viable way to sell virtually every type of real estate,” said Frank Diliberto, president and CEO of Inland Real Estate Auctions. “This includes industrial, commercial, and even residential inventories. Since we work around the country, we have a unique perspective on all major markets.”

One of the nation’s top auctions firms, conducting transactions in Illinois, Michigan, Florida and California, Inland Real Estate Auctions is part of The Inland Real Estate Group of Companies, Inc. (www.inlandgroup.com), which comprises independent real estate investment and financial companies doing business nationwide. Inland is one of the nation’s largest commercial real estate companies. Inland’s national headquarters is in Oak Brook, Ill.

Posted: 05|1|07 at 6:44 am. Filed under: US News.