• Please be advised that the auction of the bank branch located at 22W151 Butterfield Road, Glen Ellyn (DuPage County Co), IL 60137 scheduled for Friday, October 8th at 10 am has been POSTPONED. There is a contract pending on this asset.
Auction Postponed - Contract Pending.
Glen Ellyn, Illinois - DuPage County
Fri, Oct 8, 2010 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
Monday, October 4th from 9am - 11am
PROPERTY LOCATION
22W151 Butterfield Road, Glen Ellyn, IL 60137
AUCTION LOCATION
Auction Held On Site
PROPERTY DESCRIPTION
Please be advised that the auction of the bank branch located at 22W151 Butterfield Road, Glen Ellyn (DuPage County Co), IL 60137 scheduled for Friday, October 8th at 10 am has been POSTPONED. There is a contract pending on this asset.
The auction of the other bank branch at 5742 West Belmont Avenue, Chicago (Cook County), IL 60634 will take place onsite at 2 pm on the same day as scheduled.
We apologize for any inconvenience this may have caused, and will notify you promptly if there is any change in this situation.
3,535 sf building with multiple drivethru lanes, landscaped suburban lot in front of shopping center, built 1976, 35 parking spaces
Detailed Information on Glen Ellen (DuPage Co) IL Asset
Property Info from 5/18/10 appraisal, 7/7/09 survey, 6/17/09 title commitment, 8/3/09 Phase 1 ESA
160 sf ATM included in square footage, partial unfinished basement not included in square footage. The interior of the building is comprised of a lobby/teller
area, offices, a break room and bathrooms, as well as a basement with a mechanical
room and storage area. The remainder of the Site is improved with asphalt-paved
parking and driveway areas, concrete walkways and landscaping. Drive-thru teller
Lanes are located along the southern side of the Site building. Zoning is B-1 Local Business. Not in a flood hazard area. Tax Parcel 05-26-404-010. Built in 1976. Two washrooms and kitchenette. Not sprinklered. 265’+- Butterfield frontage. Access easements through shopping center parking lot at rear, no direct access onto Butterfield. 35+- parking spaces. The Site is connected to the Village of Glen Ellyn sanitary sewer system.
A 2008 asbestos survey identified 12†x 12†off-white floor tile and associated mastic to contain 1-5% Chrysotile asbestos. The tile and associated mastic was located in the janitor’s closet on the first floor. The Phase 1 assessment revealed no evidence of recognized environmental conditions (RECs) in connection with the Site.
TRACT DESCRIPTIONS
Tract 1: 1.3± ac 3,535 Square Foot Former Bank Branch
AREA MAP
Terms: Bank Proof of Funds Required to Bid, 10% Buyers Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, close by November 22nd, 2010.
Broker Co-Op: 2% Commission Paid to Properly Registered Brokers, see website for details
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€
