Chicagoland auction house on the leading edge of second home trend

Auctions are not just for distressed properties
  • Buying second homes at auction is becoming a popular alternative to the traditional sales process.
  • SVN Auctionworks saw an increase in second home buyers purchasing at auction last year.
  • The Chicago auction house has listings at all price points.

Sperry Van Ness Auctionworks (SVN), a Chicago-based auction house, is doing a booming business in helping buyers find a perfect second home. Diana Peterson, a licensed Realtor, attorney, and president of the Chicago franchise, says that preconceived notions of auctions being just for distressed properties are no more.