NORTHBROOK, IL., May 30, 2017 Hilco Real Estate, LLC, in cooperation with Marcus & Millichap, announced the date of July 12, 2017 as the sealed bid auction date for the Hutsfield Square Development Site located in South Bend, IN. This 46± acre site is being offered as 15 parcels that can be bought individually, in groups, or in total. Parcel/lot sizes range from 1.33 AC – 9.15 AC. Located with frontage along The Indiana Tollway (IH 80-90), the high visibility site is improved with interior roads and all major utilities in place, making the site ready for immediate development.
The majority of the property’s existing zoning allows for most types of commercial development, including retail, hospitality, office, restaurant, and multifamily. Approximately 14.9 acres of the site have been designated for all types of senior living options. The current site plan has the flexibility to vary based on the building configuration.
The property is ideally located to the north-west of downtown South Bend on Cleveland Rd. at Mayflower Blvd. and adjacent to The Indiana Tollway (IH 80/90), a major east-west corridor connecting East Coast population centers to Chicago, the Midwest and onto the West Coast. Just two miles from the property is the South Bend International Airport, and only five miles away is the world renown Notre Dame University one of the major economic and employment engines of both South Bend and this part of the NW Indiana region. Economic incentives may be available for various uses.
Jeff Azuse, Senior Vice President for Hilco Real Estate stated, “Rarely is a fully entitled ‘shovel ready’ development property like this available to start moving dirt right away. The South Bend market is very attractive and the demand for various types of commercial, retail and senior living housing should continue to grow into the near future. The prime location offers easy access to the region with excellent visibility on a major traffic artery through NW Indiana.”
The sealed bids are due July 12, 2017 at 5:00 p.m. CDT. To participate in this offering, interested parties should review the extensive due diligence information located on the web page (link below), and submit by July 12, 2017 your sealed bid offers. Bidders can bid on one lot, multiple lots or the entire 46+/- acre portfolio. You will be notified within three business days if your bid(s) are to be considered for the next round of offers, where Hilco and the Seller will work with the best qualified offers to structure a mutually acceptable sale.
For more detailed due diligence information and to view the terms of sale, please visit www.HilcoRealEstate.com/SouthBend or contact a member of our transactional team at 877-933-7779. Hilco Real Estate is working in cooperation with Marcus & Millichap on this offering.
About Hilco Real Estate, LLC: Hilco Real Estate, LLC (‘HRE”), a Hilco Global company, is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, extensive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE consistently exceeds expectations.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com