Inland Real Estate Auctions, Inc. to Auction More Than 27 Acres of Commercial Property Including Hotels, Office Buildings, Investment Properties, and Operating Businesses.

OAK BROOK, Ill. -- On Oct. 25-27, Inland Real Estate Auctions, Inc. will auction one of the broadest and most impressive assortments of property in recent history.

Ten properties from one of Chicagoland's largest gas station and convenience store operators will be among the offerings, including:

--Three gas stations, in Munster and Merrillville, Ind. Opening bids: $395,000 to 700,000.

--Seven development sites totaling 17.5 vacant acres, to be auctioned individually. Each site boasts broad commercial zoning allowing for a wide range of retail, commercial and residential development options. These lots are located in Frankfort, Tinley Park, Monee and Lemont, Ill. and Merrillville and Hammond, Ind. Opening bids range from $50,000 to $595,000.

Other offerings, from private and corporate sellers, will include:

--A mixed-use River North loft building in the heart of one of Chicago's hottest neighborhoods, at 153 W. Ohio St. Opening bid: $3.69 million. The five-story, 50,500-square-foot building, carries a $165,000 retail lease on the first floor and a penthouse with residential or club potential.

--A 150-room Clarion Hotel in St. Joseph, Mich. Opening bid: $3.125 million.

--A 135-room full-service hotel in Ottawa, Ill. which provided its owner with $226,445 in net operating income last year.

--The Heritage Community Bank building in Glenwood, Ill. Sealed bids due Oct. 26.

"This collection of properties shows the expanding popularity of the auction process to sell real estate," said Frank Diliberto, president and CEO of Inland Real Estate Auctions, Inc. "Sellers of every kind of property -- from top-flight mixed use property to operating hotels and development land - are finding auctions are the most efficient way to move property while minimizing the cost of carry and maximizing return."

All of the properties, unless otherwise noted in the list above, will be auctioned on Oct. 25 at the DoubleTree Hotel Chicago Oak Brook, 1909 Spring Road in Oak Brook, Ill., at 7 p.m. Registration begins at 6 p.m. Potential buyers are required to inspect the properties before bidding. Call [phone] or consult www.inlandreauctions.com for inspection dates.

Inland Real Estate Auctions, Inc. is part of The Inland Real Estate Group of Companies, Inc., which comprises independent real estate investment and financial companies doing business nationwide. With more than 35 years of experience focusing on auctions, commercial real estate brokerage, investment, property management, land development, acquisition and mortgage lending, Inland is one of the nation's largest privately-held real estate companies. Inland's national headquarters is in Oak Brook, Ill.