Nearly 70 Southeast Wisconsin Lots Set to Be Sold at Wisconsin's Largest Single-Family Lot Auction

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Deals Abound as Properties Near Kenosha Once Valued over $100,000 to Start at $40,000.

Micoley & Company Real Estate Auctions, a project-focused auction company that specializes in accelerated marketing programs, recently announced its involvement in an event poised to be the largest single-family lot sale in Wisconsin's history. On August 15, 2009, Micoley will assist in the sale of nearly 70 sites, all found in several highly desirable subdivisions in Southeast Wisconsin. Lots previously valued between $100,000-$150,000 will likely be sold at prices that are mere fractions of what they once cost.

Lots included in the sale can be found in the Ashbury Creek and Westfield Heights subdivisions, both in Pleasant Prairie, Wis., and in the Heritage Estate subdivision, located in the town of Salem, Wis. The vast majority of the lots up for sale are residential, though a few commercial lots are available. All are within 15-20 miles of Kenosha.

According to Wade Micoley, owner of Micoley & Company, today's tough economic environment is actually the perfect one in which to build a home - especially in these particular communities.

"Because the lots will start at $40,000, homes built on them will be much more affordable than comparable ones in the area - and buyers can use any builder they wish," says Micoley. "Plus, first-time home buyers can take advantage of the $8,000 tax credit, creating additional savings."

The large variety in the look and size of the lots (ranging from small, suburban ones to sites that are more than one full acre) allows buyers to choose the option that best meets their lifestyle needs and preferences. Since are all relatively close to the Illinois border and train stations, these communities are ideal for city commuters.

"I am very excited about using the auction process again to move lots," said Mark Bourque, president of Prudential Premier Properties, who owns 25 of the lots up for bid. "I looked to auction services in the early 1990s when I wanted to close out one subdivision and open another. I found this method to be the best way to quickly reduce my inventory while giving my customers great deals on prime real estate. It's truly a win/win scenario."    

Other companies working with Micoley to sell lots in this auction are Stafford Development and Stafford Custom Home; Harvest Developments & Harvest Custom Homes; and Douglas Kent Homes. Each is based in Kenosha.

Selling property through auction, or rapid distribution, is a growing trend - not just here in Wisconsin but around the world.

"In Australia, virtually all real estate is sold at auction, and it's becoming the wave of the future in the United States, too," says Maxine O'Brien, executive director of the Wisconsin Auctioneers Association. "Some states are further ahead than us, but there's no doubt that auctions are gaining steam in Wisconsin."

O'Brien continues, "The reasons auctions are becoming more popular are simple. People are beginning to realize that competitive bidding is the only way to set the true value of a property. And you can't beat the exciting environment an auction event creates! Morpace, Inc., a national marketing and research firm hired by the National Auctioneers Foundation, found that the number-one reason people attend auctions is because they are fun."

The Micoley & Company auction will take place at the Radisson Hotel, located at 11800 108th Street in Pleasant Prairie. Pre-registration starts at noon, with the auction commencing at 1 p.m. Tour maps of the properties, bidders' packets and other details can be found by visiting http://www.micoleyauctions.com.

"We encourage interested folks to go check out the different lots available ahead of time," advises Micoley. "Then on the day of the event, prospective buyers need only bring with them a cashier's check made out to Micoley & Company for an amount equivalent to 5 percent of the minimum bid of a lot they want. Even if the lot goes for a higher amount, this figure will still allow them to obtain the purchasing rights."

Financing will be available for qualified buyers, and broker participation is welcome.

Developers may sell lots prior to the auction if a satisfactory offer is negotiated. For pre-sale information, call Micoley & Company at (888) 662-1020.

About Micoley & Company Real Estate Auctions
Micoley & Company Real Estate Auctions is a project-focused auction company that customizes accelerated marketing programs for financial institutions, commercial/corporate clients, and the individual property owner in Wisconsin, Minnesota and Michigan. Micoley & Company Real Estate Auctions manages and facilitates the sale of company assets, inventory, etc., in order to provide the smoothest possible transaction for our Midwestern clients. For more information about Micoley & Company Real Estate Auctions, visit http://www.micoleyauctions.com or call (888) 662-1020.

Headquartered in Green Bay, Wis., Micoley & Company Real Estate Auctions is just one of the unique portfolio of companies that operate under the Micoley & Company umbrella. This full-service real estate firm provides its rapidly expanding base of Midwestern clients with services including brokerage, land development, property management, general contracting and property auction. Micoley & Company is licensed in Wisconsin, Minnesota and Michigan.
For more information about Micoley & Company, visit http://www.micoley.com.

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