Sheldon Good & Co. readies for RTC commercial auction - Resolution Trust Corp - Brief Article

Real Estate Weekly, Feb 19, 1992

Following its successful series of 1991 auctions on behalf of the Resolution Trust Corporation (RTC), Sheldon Good & Company, the nation's premiere real estate auction firm, will soon commence a second phase of RTC auctions involving the sale of commercial properties aggregating approximately $40 million. Steven Good, president of the Chicago-based firm, made the announcement.

The new phase will begin this spring, according to Good, and will involve a variety of commercial properties.

Sheldon Good & Company spearheaded its RTC efforts last November with a series of seven major auctions, during which 53 of 54 offered properties were sold for some $35.4 million. The properties included office buildings, shopping centers, bank buildings, apartment complexes and industrial buildings under the auspices of the RTC's North Central, Western and Southwestern Regional Offices.

The auctions were conducted in Missouri, Oklahoma, Texas, Colorado and North Dakota, and also included some 40 small residential and commercial development sites were that were sold during a Colorado regional sale.

Highlights of the auctions included the sale of a 137,000-square-foot San Antonio office building for $2.75 million; the sale of a 48,000-square-foot Clayton, Missouri bank building for $2.6 million; the sale of a 31,000-square-foot St. Peters, Missouri bank building for $2.2 million; and the sale of a 49,000-square-foot Colorado Springs, Colorado industrial building for $1.4 million.