Luxury Real Estate Auction in Michegan City

Luxury Real Estate Auction

Inland Real Estate Auctions, Inc. announced today it will auction two model luxury homes and 15 home sites in Michigan City, Ind. The properties are part of The Woodlands, a rustic, resort-style community featuring large lots and 70 acres of natural surroundings with amenities like pools, tennis courts and a clubhouse. An existing model home and five home sites will be sold absolute, regardless of the final bid at the July 26 auction.

“The developer, Urban Street Properties LLC, is using the auction as a way to accelerate sales in this difficult market, which has impacted even very successful projects like The Woodlands,” said Paul Rogers, senior vice president and principal Indiana broker of Inland Real Estate Auctions.

“It’s a great opportunity for buyers to get a great vacation or year-round home, or a spot to build one, in an outstanding, amenity-rich resort development.”

Difficulties in the mortgage market remain an issue, and the opening bids reflect this – the three-bedroom, 2.5-bath model homes, originally priced at $560,000, include detached two-car garages with separate guest quarters and will be sold with suggested opening bids as low as $275,000. The ready-to-build home sites, originally priced to $175,000, range in size from three-quarters of an acre to 2.5 acres, with opening bids from $65,000. Located an hour from Chicago, The Woodlands is just minutes from Lake Michigan beaches and Michigan’s Harbor Country. The site includes private pools, playgrounds, picnic areas and tennis and basketball courts, as well as shuttle transportation to nearby beaches.

Interested buyers can contact Inland Real Estate Auctions at 1-866-825-4321 to obtain a bidder’s information package.