chicago-condos & Chicago Real Estate pcherry on 18 Feb 2010 12:11 pm

Minimum Bids Set For Priairie Pointe Condo Auction

February 18, 2010 - We recently told you about the 13 units going up for bid at Prairie Pointe on March 14th at the Hilton Chicago. Not a lot of information was originally released with the auction announcement for this Chicago real estate project, but we have some new details about the condos that will be of interest to any potential buyers.

If you’re interested in one bedroom, 1.5 bath condos, there are two units going up for bid that have 994 square feet. These sit on floor 20 and 21. The starting minimum bid for these two condos is set at $189,000.

For the same minimum opening bid of $189,000 you can get a little more room because there are three other one bedroom, 1.5 bath units up for bid that have 997 square feet of living space. These condos are located on floor 17, 20 and 21.

A couple of even bigger one bedroom, 1.5 bath condos at 1,111 square feet are going up for bid as well. These two units are on floors 11 and 20. The minimum bid for each is $211,000.

For opening minimum bids of $295,000 each you can try to purchase one of the 2 one bedroom, two bath condos located on floor 11 and 12. These units size up at 1,443 square feet each.

If you need more roon there are 3 two bedroom, two bath condos up for auction with minimum bids of $267,500 each. They have 1,274 square feet and sit on floors 12, 17 and 21.

And for those of you who always wanted to customize a penthouse, there is a 2,800 square foot condo on the upper floor of Prairie Pointe. The minimum bid is $895,000 and it has a reserve.

All of the condos except the unfinished penthouse are going to be sold absolute, which means in theory you could own one for the minimum bid. You will have to agree to close by April 31st though. Inland Real Estate is starting the auction at 2pm on March 14th and registration is at 1pm prior to the bidding.

Open house dates are February 28th from 1pm to 4pm; March 3rd from 5:30pm to 8pm; March 7th from 1pm to 4pm; March 10th from 5:30pm to 8pm and March 13th from 12pm to 3pm.

Depending on the turnout, you may be able to get a condo at the Priaire Pointe auction for a good price. Just remember that right now there are still plenty of Chicago condos for sale at reduced prices.

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