1225 S. Hamilton Street, Sullivan, IL 61951 (Moultrie County)
Auction: Lender Owned Auction of 11 Retail & Restaurants in 7 States -- ALL SELLING REGARDLESS OF PRICE!

Closing Deadline: September 13, 2017

Inspection: Monday, July 31 & Monday, August 7 at 11:00 AM CT SHARP

Sale Manager: Michael Fine, (312) 278-0600, michael@fineandcompany.com

 

Property Description: Former Shopko store built ca 1999. The property is serviced by public water and sanitary sewer systems, and the irregular shaped site is known as tax parcel 08-08-11-205-012-0060. The 0060 refers to commercial zoning. There are 138 marked parking spaces, of which 8 are handicapped. Property is zoned I-1 Light Industrial. Shopko replaced the roof of this building in August 2016. (Please see roof warranty posted among other due diligence materials.Warranty may not be transferable, as it may not have transferred to the Seller from Shopko. Any prospective purchaser should carefully read the terms of the warranty.)

 

According to a June 27, 2006 Phase 1 Environmental Site Assessment, no recognized environmental
conditions (RECs) or historical RECs were identified in connection with the property.

 

Auction Conducted in Conjunction & Cooperation with:

Fine & Company LLC, licensed IL broker #481011386

 

 

 

Terms:  Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, close by September 13, 2017. Auctioneer is not responsible for bidding errors caused by internet outages, bid platform failures, or power failures.

 

All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window.

 

This feature is in place partially to prevent "sniping" which can occur on online auctions with a hard deadline. It recreates the action of a "Live Auction". If your opponent bids in the waning seconds of the auction, you still get another chance to bid.

 

With that in mind, don't wait out the bid until the last second, as it can put you at risk for not getting your bid in before the 5-minute clock runs out.