• Alley in rear • In storefront retail building with entry vestibule • Zoned for Neighborhood Shopping • WILL SELL TO HI BIDDER Regardless of Price
ABSOLUTE AUCTION: Urban bank in NW Chicago
5742 West Belmont Avenue, Chicago (Cook County), IL 60634
Fri, Oct 8, 2010 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Friday, October 8th, 2010 at 2 PM
PROPERTY LOCATION
5742 West Belmont Avenue, Chicago (Cook County), IL 60634
AUCTION LOCATION
Will Sell On Site
PROPERTY DESCRIPTION
This bank building is in the Belmont-Central SBIF area. Click this link to the information about the SBIF program - www.somercor.com/sbif
TRACT DESCRIPTIONS
Tract 1: 1± ac 5,915 sf Former Bank Branch on 6,283 sf Lot
AREA MAP
TRACT MAP(S)
AREA MAP(S)
AUCTION REGISTRATION: In order to register for the auctions, you must have pre-inspected the property and must confirm that you have done your own inspection prior to registration. You must provide proof of funds from your bank that you have sufficient funds to cover the required 10% earnest money downpayment in order to obtain a bid number. This may be accomplished by faxing the proof of funds to 770-980-9383 or emailing to [email protected] , or you may bring the proof of funds to the site beginning one hour before each bid deadline. Proof of funds consists of a copy, fax, or original of a current bank statement in bidder’s name showing sufficient funds for earnest money deposit.
AUCTION INFORMATION & OFFICES: All available material and updates are posted to www.auctionEbid.com and at www.schraderauction.com. Due diligence materials, Auction Purchase and Sale Agreement, Broker Registration forms, and other information may be obtained by calling 770-980-9565, or by visiting our websites.
BROKER PARTICIPATION INVITED: A broker commission of two (2%) of winning bid will be paid to the properly licensed broker whose prospect purchases and closes on the real estate. To qualify for a commission, the Broker must register by mail, email, fax or hand delivery the prospect’s name and address on the Broker Registration form available as a download at the AMC website listing for this asset prior to bidder registration. The form must be signed by the prospect and the Broker, and must be received at the office of Auction Management Corporation no later than 48 hours prior to the bid deadline. Broker must also be present with their prospect during bidding and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.
CONDUCT OF THE AUCTION: Online bidding (when available) will begin one week prior to the bid deadline. Onsite bidders may place their bids at the indicated auction time. The auction ends when the highest bid is recognized by the auctioneer. Bid increments and bidding methodology are subject to change at the sole discretion of auctioneer.
TERMS OF SALE FOR REAL ESTATE:
1. All purchases are as-is/where-as. There is no post-purchase inspection period. The Auction PSA which Buyer must sign at the auction contains an acknowledgment that Buyer has inspected the property prior to the auction, is relying solely on his/her inspection, and is purchasing the property As Is with all faults and without reliance on any warranty of any kind whatsoever.
2. Winning bidders will sign an Auction Purchase and Sale Agreement (â€
