New Palatine condos under the gavel

Rick Levin & Associates, Inc., a Chicago-based real estate auction marketing firm, announced it will conduct a real estate auction of 15 brand new condominiums in Palatine. The auction will take place at 7 p.m. on Tuesday, March 18 at The Cotillion, 360 S. Creekside in Palatine.

"The owner of these properties has decided to offer them via auction to eliminate the time and expense associated with a conventional marketing program. They may then pass the savings along to the bidders at the auction," said Rick Levin, president of Rick Levin & Associates, Inc. "Offering six of the units absolute, regardless of price, shows the owner's high motivation to sell," he continued. Levin also added, "With interest rates at an historical low and property values difficult to ascertain, the auction is a perfect opportunity for buyers to "name their price" on a unit.'

These luxury and loft style units are located at The Providence and Providence Lofts, 50 N. Plum Grove Road in Palatine, just one block north of the intersection of Plum Grove and Palatine Roads. These one-bedroom-one-bath and two-bedroom-two-bath condominiums have up to 1,700 square feet, gourmet kitchens, luxurious baths, hardwood floors, 9- to 10-foot ceilings, balconies, included heated indoor parking, low monthly assessments and are just steps to Metra. Previously priced up to $529,000, the properties have suggested opening bids from $150,000. Six of the units will be sold absolute, regardless of price.

Also included in the auction is an 8th floor penthouse unit located at The Providence. This is a great opportunity to customize your own luxury living space. The two-story unit has over 6,000 square feet including balconies and roof terrace with a great skyline view of Chicago and up to four-bedrooms-4½-baths with den and bonus room. The suggested opening bid is $800,000.

The scheduled open houses for these condominiums are from 11 a.m. to 1 p.m. on March 2, 9 and 16; and from 4 to 6 p.m. on March 13. Open house attendees should access the properties by entering on Wilson.

Complete Bidder's Information Packages are available at the scheduled open houses. A cashier's check, as earnest money, is required to bid. For a color brochure on the auction, call Rick Levin & Associates, Inc. at (773) 252-4500 or visit their Web site at www.ricklevin.com.