NORTHBROOK, Ill., Oct. 13, 2022 /PRNewswire/ — Hilco Real Estate, LLC announces November 8, 2022 as the qualified bid deadline for the bankruptcy sale of 52± acres of development land located in a fast-growing region of San Antonio, Texas. The property will be sold subject to a court-approved stalking horse bid of $5,835,000.
Set along heavily-traveled Loop 410 with over 60,000 vehicles daily, this property offers both residential and commercial development opportunities in San Antonio’s up-and-coming southside. The commercial portion totals approximately 12.5 acres and offers high visibility and easy access with 3,600 feet of interstate frontage. The residential segment totals almost 40 acres, separated into two distinct parcels measuring approximately 16 acres and 23 acres, respectively.
The city of San Antonio is singularly-focused on this corridor as the next area for explosive growth, and, as such, has designated the region as a “Tax Incremental Reinvestment Zone” (TIRZ) and “Inner-City Reinvestment/Infill Policy” (ICRIP) area. The purpose of these incentives is to promote a vibrant mix of commercial, residential, educational and cultivate development within this portion of Loop 410. The incentives also provide large rebates that will significantly increase profitability for the property owner.
The property is proximate to VIDA, a new 600-acre, mixed-use development that will include 1,600 single family residential…
