• 5915+- building • 6283+- sf lot • Zoned B-3-1 Community Shopping • SELLING REGARDLESS OF PRICE!
Chicago IL Bank Branch ABSOLUTE AUCTION
5742 W Belmont Avenue Chicago, IL 60634
Fri, Oct 28, 2011 EASTERNAUCTION IS OVER
OPEN HOUSE/INSPECTION DATES
FRIDAY, OCTOBER 14, 1 p.m. to 3 p.m. CDT
Meet an Auction Representative on Site - 5742 W Belmont Avenue, Chicago IL 60634
PROPERTY LOCATION
From I-90/ I-94, exit onto Belmont west to property 3 miles on right.
AUCTION LOCATION
AUCTION HELD LIVE ONSITE AND WEBCAST BIDDING OCTOBER 28TH AT 10 AM
PROPERTY DESCRIPTION
INFORMATION AVAILABLE AT: AuctionEBid.com
Sells in conjunction with Auction Management Corporation 877-980-9565 and Palmetto Auction & Realty.
Property Info from 1/19/11 appraisal, 6/9/09 title policy, 6/20/11 ESA, 7/6/09 survey
The 5915+- building was constructed ca. 1951 and occupies virtually the entire 6283+- sf lot, zoned B-3-1 Community Shopping. There is rear alley access to the building. The Site is identified as Parcel Identification number 13-20-432-041-0000. The building is heated and cooled by electricity provided by Commonwealth Edison and connected to the municipal water and sewer systems provided by the City of Chicago. The Site is connected to the City of Chicago sanitary sewer system.
LOT 11 AND LOT 12 IN GORSKI'S RESUBDIVISION OF LOT 94 AND THE VACATED ALLEY LYING
EAST OF AND ADJOINING SAID LOT 94
The ESA revealed no evidence of RECs in connection with the Site with the exception of two USTs permitted for the Site in 1949. There is no removal documentation and it is possible that the USTs were installed and not removed. However, based on the results of a GPR/EM survey, no evidence of USTs beneath the building was found.
TRACT DESCRIPTIONS
Tract 1: 1± ac 5915+- building on 6283+- sf lot, zoned B-3-1 Community Shopping. - SELLS ABSOLUTE (REGARDLESS OF PRICE!)
AREA MAP
TRACT 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. 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 (where 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: Winning bidders will pay an earnest money deposit of ten (10%) of the purchase price (bid amount plus buyer’s premium). Upon conclusion of the bidding, Buyer will sign an Auction Purchase and Sale Agreement (â€
