SOLD

Absolute Auction, Riverfront Commercial Building

Dundee, Michigan, Monroe County

Owner: Dundee River Front LLC Tue, Nov 5, 2013 EASTERN

AUCTION IS OVER

TOTAL SOLD: $660,000

Tract(s): 1 @ $660,000

• Absolute Auction • 4 Story Riverfront Commercial Building • 21,318 Square Feet Gross Area • 15 Units/16,500 SF Rental Floor Area • Set on 0.8+/- Acre • Selling Regardless of Price!


OPEN HOUSE/INSPECTION DATES

Tuesday, October 8, Noon-2PM
Wednesday, October 23, 2-4PM
Meet a Schrader Representative and view the property

PROPERTY LOCATION

298 West Monroe Street, Dundee, Michigan.
From the intersection of US 23 & M-50 (Exit 17, near Dundee), travel east on M-50/Tecumseh Road 1 mile to the town center. Continue on M-50/Monroe Road across the bridge to the property.

AUCTION LOCATION

Held Onsite

PROPERTY DESCRIPTION

This commercial property was constructed in 2007 for a mixed use development and the interior has remained in a mostly unfinished condition. Also, the property is adjacent to a river and has experienced flooding in the basement parking level.

Dundees close proximity to Ann Arbor, Toledo and Monroe attracts residents from these locations along with the economic base of professional, retail and service related employment including Cabelas.

  • Tax ID 58-42-00-582-000
  • Land Area=0.80 acres/34,717 sq. ft.
  • Gross Building Area=21,318 sq. ft.
  • Rentable Floor Area=16,500 sq. ft.
  • Zoning=B-1, General Business District
  • Flood Hazard=Within the 100-year flood plain
  • Number of Units=15


    AREA MAP

    • AREA MAP(S)

    PROCEDURE: The property will be offered as an absolute auction in 1 individual tract containing 0.80+/- acre.

    BUYERS PREMIUM: A 10% Buyers Premium will be added to the final bid price and included in the contract purchase price. DOWN PAYMENT: 10% down payment on the day of auction. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

    ACCEPTANCE OF BID PRICE: The successful bidder will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction.

    EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

    DEED: Seller shall provide Warranty Deed.

    CLOSING: The balance of the purchase price is due at closing, which will take place within 15 days of presentation of insurable title. Costs for an insured closing shall be shared 50:50 between Buyer and Seller.

    POSSESSION: Possession is at closing.

    REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing in accordance with MCL 211.2(4).

    PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates has been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

    ACREAGE: All acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal description and/or aerial photos.

    SURVEY: The Seller does not anticipate the need for a new survey.

    AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

    DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

    ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE

    Auction Brochure

    Click to download