Frank Diliberto Promoted to President and CEO of Inland Real Estate Auctions, Inc.
OAK BROOK, Ill. -- The firm, known for selling a Frank Lloyd Wright landmark, sees explosive growth in its industry
The Inland Real Estate Group is announcing the recent promotion of Frank J. Diliberto to president and CEO of Inland Real Estate Auctions, Inc. Diliberto, hired as senior vice president in 2001, will continue leading the firm's expansion into new markets while officially taking command of the auction company. Diliberto's appointment is timed to coincide with record growth in the real estate auction industry. In 2002 real estate auctions was a $54.5 billion industry, representing a more than fivefold increase since 1980, according to the Gwent Group, an independent consulting company that tracks the real estate auction industry.
"Our national sales activity, from California to Florida, is attracting more and more sellers to the real estate auction process," Diliberto said. "We continue to spearhead the mainstreaming of real estate auctions, demonstrated by our clients' use of our programs as a first-choice marketing method for trophy properties."
Inland Real Estate Auctions, Inc., under Diliberto's leadership, has garnered significant media attention recently for several notable auctions, including the internationally publicized sale of a Frank Lloyd Wright home in Chicago, the sale of Intel Corp.'s 428,000-square-foot, 68-acre chip manufacturing facility in Puerto Rico, and the court-ordered auction of The Mercury Theatre in Chicago.
Diliberto has been in the real estate and auction fields for more than 15 years and has been involved in the sale of commercial, office, industrial and residential real estate with an aggregate value of more than $1 billion. Prior to joining Inland, Diliberto was senior vice president of Sheldon Good & Company, where he was a key producer. Diliberto is highly regarded throughout the real estate industry for his expertise in deal structure, accelerated marketing and the auction process.
Inland Real Estate Auctions, Inc. is part of The Inland Real Estate Group of Companies, Inc. (www.inlandgroup.com), which comprises independent real estate investment and financial companies doing business nationwide. Inland is one of the nation's largest commercial real estate companies. Inland's national headquarters is in Oak Brook, Ill.
