Approx. 12,400 sf Vacant Warehouse in Mixed Use Building with Income from Retail & Apartments in Blue Island, IL

Location: 12842 South Western Avenue, Blue Island, IL, 60406

Approx. 12,400 sf Vacant Warehouse in Mixed Use Building with Income from Retail & Apartments in Blue Island, IL

Make A Pre-Auction Offer

[close]

Description

Suggested Opening Bid: $260,000

Buyer’s Premium: 6% ($40,000 minimum applies)

Cooperating Broker’s Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added)

Built: 1927

Lot Size: Approx. 13,888 SF

Building Size: Approx. 16,240 SF

2018 Taxes: $22,968.57

PIN #: 24-36-213-011-0000

2018 Taxes: $2,172.20

PIN #: 24-36-213-022-0000

2018 Taxes: $0

PIN #: 24-36-213-012-0000

Zoning: C1; Central Area Commercial

Traffic Count: 7,410 VPD

Electrical: 400 Amps 

Heating: Forced warm air in retail; ceiling-suspended radiant space heaters in warehouse

Air Conditioning: Forced air, individual units

Number of Freight Elevators: 1

This income producing, approx. 16,240 sf mixed use building is located in a well stabilized section of Western Avenue in Blue Island, near Interstate 57, only 15 miles from downtown Chicago.

It has an approx. 1,600 sf retail storefront leased to a long term tenant (hair salon) and two leased residential units (a one bedroom unit and a two bedroom unit), all with strong rental history. It offers an approx. 12,400 sf vacant warehouse with approx.14′ ceiling heights (formerly occupied by the now retired owners‘ food distribution business).  The warehouse has two floors (approx. 5,800 sf each) plus a full floor basement (approx. 6,500 sf) with all floors accessible via stairs and freight elevator.  The second floor  of the warehouse is bow trussed with recent repairs and upgrades.

The rear has a commercial drive through garage with alley access.   Adjacent is a 12 space, gated parking lot. The roof was replaced in the last 9 years and all mechanicals and elevator recently maintained, including a new boiler.  Sellers have retired.  Title is clear.  Recent inspection and appraisal  available. The warehouse is vacant, clean and ready for the next new venture!

Title is clear. Sellers have retired and closed the food distribution business.  The warehouse portion of the building is vacant, clean and ready for the next new venture!

Pre-Auction Bids are Highly Encouraged!

To review the documents for this property, please follow these 3 simple steps:

  1. Register on our website or log in with your existing account.
  2. Go to the Documents tab, click a document that you wish to review, and accept the confidentiality agreement terms by entering your password.
  3. You may now download the document.

Agree to this NDA to download:

[close]

Confidentiality Agreement

I/We the Accepting Party/Parties and any related entities, including brokers, (the “Accepting Party”) is/are interested in obtaining information regarding this Property (the “Property”) in order to evaluate the possible acquisition (the “Proposed Transaction”) of the Property. By entering my/our password I/We accept the following terms of this confidentiality agreement:

  1. Confidentiality: Any information with respect to the Property (collectively, the “Evaluation Materials”) provided to Accepting Party by Owner, Owner’s Representative and AW Properties / AuctionWorks any of their respective consultants, agents or employees (collectively, the “Seller Property”) will be used solely for the purpose of evaluating the possible acquisition of the Property by Accepting Party, and will not be used or duplicated for any other purpose. Accepting Party shall keep all Evaluation Materials strictly confidential provided that the foregoing shall not apply (a) to information of a public nature or learned by Purchaser from any source other than Seller, or (b) from and after the Closing Date. From and after the Closing Date Purchaser shall keep all financial information relating to the Tenants confidential. Nothing contained in this Section shall prohibit any party from disclosing information (I) to its lenders, members, partners, shareholders agents or consultants or prospective purchasers of any of the Parcels or any interest therein; provided that as a condition to any disclosure of Tenant’s or Seller’s financial information, Purchaser shall deliver to Seller a confidentiality agreement executed by the party receiving such information, which agreement shall be for the benefit of Seller and shall be at least as comprehensive as this agreement, (ii) as required by any applicable securities requirement, law or court order, or (iii) in any action between any of the following parties: Purchaser, Seller, Seller’s Affiliate, any Agreement, the provisions of this Section shall survive the Closing or any termination of this Agreement.
  2. No Disclosure: Accepting Party shall not (I) disclose the fact that discussions are taking place concerning the possible acquisition of the Property or any of the terms thereof, or (ii) conduct any discussions, negotiations or make any inquiries concerning the possible acquisition of the Property with any other person or entity, except for Owner and AW Properties / AuctionWorks, except as may be expressly permitted elsewhere in the Agreement and, only in strict accordance with the provisions hereof.
  3. No representations by Seller Parties: None of Seller Parties make any representations or warranties as to the accuracy of completeness of the Evaluation Materials or that actual results will conform to any projections contained therein. Owner, Owner’s Representative and AW Properties / AuctionWorks expressly disclaim any and all liability for representations or warranties, express or implied, contained in the Evaluation Materials or in any other written, oral or other communications transmitted or made available to Accepting Party by Seller Parties, including, without limitation, computer disks containing files with financial data or projections.
  4. No Obligation: Owner is under no legal obligation of any kind whatsoever with respect to the Proposed Transaction by virtue of this Agreement, the delivery of any Evaluation Materials, any discussions concerning the Proposed Transactions or otherwise, unless and until a binding written agreement is executed and delivered by all parties thereto.
  5. Accepting party hereby agrees to indemnify and hold harmless each of the Seller Parties against any and all costs, loss, liability or expense, including attorney’s fees and expenses, arising from or in any way connected with any breach of Accepting Party’s obligations under this Agreement.


Total Bids Placed:

Auction Information

ONLINE-ONLY AUCTION

Location: 12842 South Western Avenue, Blue Island, IL, 60406

How to Submit Pre-Auction Bid

Click on the Pre-Auction Offer Form button on the property page and submit your bid with proof of funds.

How to Register & Bid Online

Register: If you do not have an account on this website, click the “Sign-Up” button above and complete the brief registration form. We will then send you an email with a verification link that you must click in order to create a new account.

Important: You must be pre-approved to bid online. Follow these instructions to get approved to bid online:

BID APPROVAL PROCESS:

Review all information and due dilligence documents posted on the property listing on our website.

Read the Terms and Conditions and Purchase and Sale Agreement posted on the property listing on our website.

Wire or overnight the certified funds required to bid on the property (for amount required see Terms and Conditions).

Click the “Register to Bid” button.

You will receive an email notifying you that you have been approved to bid on the property.

If you have any questions, contact us. We would be happy to assist you.


For wiring instructions email: info@awproperties.com or call 847-509-2757.

There is a 6% Buyer's Premium ($40,000.00 minimum applies) in effect for this auction.

You must be logged in to request a showing for this property.

You must be logged in to send private messages about this property.