URBANA, Ill.--(BUSINESS WIRE)--Twenty-six student condominiums in the Capstone Quarters development sold at auction Saturday for a total of $2.5 million, with Albert Burney Auction Company managing the sale. A crowd of over 100 gathered under a tent at the development on Lincoln Avenue to bid on the units, which included floor plans with two, three and four bedrooms. In bidding that lasted for two hours, bidders snapped up all 20 of the two-bedroom units available, as well as four three-bedroom units and two four-bedroom units.
Rob Howland, Capstone’s chief operating officer, agreed that the auction attracted a strong crowd. “One of the attractions of an auction is that people have a very good chance to get a good buy, and there were some great buys today. We felt we had a very good turnout and got good results considering today’s sluggish real estate market,” said Howland.
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