Sheldon Good and Company to Conduct Lender-Directed Auction for Prime Farmland and Spectacular Equestrian Estate in Suburban Chicago

Sheldon Good and Company, a Racebrook Portfolio Company and America’s leading real estate auctioneer, will conduct a Lender-Directed auction Thursday, December 2nd presenting the exciting opportunity to acquire, at your own price, 240+/- acres of productive farmland and/or a 40+ acre spectacular equestrian estate in Kane County, Illinois. The farmland is being offered on a per acre basis in seven tracts and can also be purchased in its entirety. The one-of-a-kind equestrian estate may also be purchased separately or incorporated in a bid for the entire property.

The impressive estate offers everything an equine aficionado could desire. The facilities include a 7,400 square foot Frank Lloyd Wright-inspired prairie style home, and an ample guesthouse which bookends a pool house with fire pit and summer kitchen. The barn, with six paddocks, hay loft, tack room and indoor riding arena complete the equestrian’s dream estate. Set on 40+ acres, this estate is not only very manageable but allows the future owner plenty of room to expand.

“There are so many unique aspects of this property,” said Alan Kravets, Executive Director of Sheldon Good and Company. ” With enticing suggested opening bids of $750,000 dollars for the equestrian estate and only $3,800 per acre for the farm land, farmers, equestrians, architectural enthusiasts, and investors can name their own price and walk away with a great deal.”

Located in Elburn, a village in Kane County, the property is conveniently locate within 50 miles of the Chicago Loop and serviced by the West Line of the Metra Commuter Rail System. An indicator of the value this auction represents can be gauged by a recent local auction in which an 80+ acre tract was sold in excess of $10,000 per acre.

The auction will take place Thursday, December 2nd at a local venue. Registration will begin at 6:00 p.m. CST, and the auction will begin at 7:00 p.m. The Bidder’s Information Packet, a requirement to bid, will be available at all on-site inspections or may be ordered and shipped by registering at elburnauction.com or calling (312) 373-4200. This packet contains pertinent information specific to each tract, auction guidelines and requirements as well as the Terms of Sale. On-site inspections are scheduled to begin November 12, 2010 please call (312) 373-4200 for details.

Sheldon Good & Company is America’s Real Estate Auctioneer. As the nation’s leading provider of strategic momentum-building marketing and structured accelerated sales solutions, the firm has a 45-year track record of proven results, has sold billions of dollars worth of properties in every real estate asset class, and has the highest closing ratio in the industry.

Sheldon Good & Company brings a superior level of experience, expertise, and creativity in analyzing the real estate and creating the proper deal structure to maximize return, utilizing a sophisticated array of alternative sales strategies that include open-outcry auction programs, sealed bid offerings, private sale campaigns, phased auction plans and structured loan sales throughout North America and the Caribbean.

Sheldon Good & Company is a Racebrook Portfolio Company, part of a family of enterprises offering a wide range of services in the special situation and opportunistic real estate sector that include: advisory and consulting services; acquisition, investment and disposition capabilities; and workout and restructuring services. The firm’s headquarters are based in New York City, with primary offices in Chicago, Miami, Denver, San Francisco and other strategic locations nationwide.