View of 1000 S. Michigan Ave., Chicago, IL

View of 1000 S. Michigan Ave., Chicago, IL

View of 1000 S. Michigan Ave., Chicago, IL

View of 1000 S. Michigan Ave., Chicago, IL

View of Grant Park from 1000 S Michigan Ave

View of 1000 S. Michigan Ave., Chicago, IL

View of 1000 S. Michigan Ave., Chicago, IL

View of 1000 S. Michigan Ave., Chicago, IL

View of Grant Park from 1000 S Michigan Ave

View of 1000 S. Michigan Ave., Chicago, IL

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Parcel:
33,700 sq. ft.
251' x 134.28'

Location:
1000 South Michigan Avenue
Chicago, IL

Previously Priced up to: $33,000,000
Purchased in 2005: $28,800,000*
Approx. Outstanding Bank Debt (5-19-2010): $25,280,250
March 2009 Appraisal: $24,600,000
Suggested Opening Bid: $9,000,000

Auctioneer's Note: This parcel is for an investor or developer who has the insight and resources to capitalize on a "jewel" of an opportunity. A tremendous place to park cash and be uniquely positioned for the next up cycle!

Auction Date: July 27, 2010
Auction Time:  1 p.m.  Registration begins at noon
Auction Location:  Intercontinental Chicago O’Hare Hotel, 5300 North River Road, Rosemont, Illinois.
Cashier’s Check Required to Bid:  $250,000

* See full purchase history in bidder information packet. A complete Bidder’s Information Package is available for a fee of $75 plus $25 for shipping and handling.