#United States #Southfield #Oak Brook #Hilco Real Estate #Oak Brook, Southfield

Hilco Real Estate Auctions Two Prime Office Buildings in the Metro Area

Hilco Real Estate Sales has announced an impending auction featuring two highly sought-after office buildings located in the suburbs of Oak Brook, Illinois, and Southfield, Michigan. Set to happen on April 23, 2025, the auction aims to attract potential buyers interested in expanding their commercial real estate portfolios. The deadline for submitting bidding qualifications is April 16, 2025.

Overview of the Properties

The first property on the auction block is located at 2210 Midwest Road in Oak Brook, a prime location within Chicago's western suburbs. This two-story building spans approximately 28,154 square feet and sits on a sizeable lot of about 3.03 acres. Currently, the building is 60% occupied, providing available suite options ranging from 500 to 3,100 square feet. Its strategic position offers excellent visibility from I-88 and easy access to key transportation routes, including I-290, I-294, and I-355, making it a compelling option for both investors and developers.

The Oak Brook property is notable for its proximity to retail establishments, restaurants, and recreational areas, including the popular Oak Brook Center mall. Additionally, it accommodates established medical businesses providing vital services like physical therapy and primary care, enhancing its attractiveness as a rental option.

Conversely, the Southfield property, situated at 26250 Northwestern Highway, boasts a slightly larger footprint of 33,420 square feet on 2.85 acres. It lies at the heart of Southfield’s bustling office, hospitality, and retail corridor, just south of I-696. With versatile possibilities for redevelopment, the site is an excellent candidate for various commercial uses, such as retail spaces or restaurants, especially considering its accessibility via multiple entry points.

Market Insights and Economic Potential

Daniel Miggins, Vice President at Hilco Real Estate Sales, highlighted the advantageous locations of both properties, saying, “Both properties are situated on major thoroughfares in well-established suburban areas, providing fantastic demographics and value-add opportunities.”

Similarly, Chet Evans, another Vice President, remarked on the unique advantages of each property. He noted, “The Oak Brook site offers buyers tremendous value in a high-profile, highly sought-after marketplace, while the Southfield site presents options for either reestablishing office space or taking advantage of its comprehensive development potential.”

The real estate market in these suburban areas is transitioning, showcasing a robust demand driven by local economic expansion. Investors now have the chance to seize opportunities in areas flourishing with diverse consumer activities and corporate growth.

Participating in the Auction

Those interested in acquiring one or both of these valuable properties must register on the auction platform before the specified deadline of April 16 at 5 PM CT. Detailed bidding procedures and additional information can be obtained by visiting Hilco Real Estate Sale's official website or by contacting relevant representatives directly.

Hilco Real Estate specializes in optimal real estate asset management. Over the last two decades, they have secured billions in real estate value for hundreds of clients, demonstrating their expertise in navigating complex sales and advanced asset management services. Their reliable team is adept at executing strategies designed to enhance cash flow and asset values, driving successful outcomes even amidst challenging market conditions.

Conclusion

The upcoming auction of these two office spaces marks an exciting opportunity for both seasoned investors and new entrants in the commercial real estate market. With strategic locations, development potential, and a burgeoning suburban economy, both the Oak Brook and Southfield properties stand to attract significant interest from bidders poised to capitalize on the expanding suburban market landscape.