Location: 9662-9698 Franklin Avenue, Franklin Park, IL, 60131

Bank Owned Ground Floor Commercial Condo Units

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Description

SOLD

Previously Valued to: $359,000

Minimum Bid: $250,000

Cooperating Broker’s Commission: 2%

Buyer’s Premium: 5%

2013 Taxes: $30,799.32

PIN #: 12-28-206-034-0000

Building Size: Approx. 18,421 sf

Zoning: DT1

Entire ground floor commercial space consisting of 11 commercial condo units in a building with 75 residential condo units above. 2 of the units are built out, 1 unit was a bank branch, another was a restaurant. The remaining units are unfinished raw space that can be configured as needed- perfect for restaurants, retail and/or office space!  The units are not legally separated. They would need separate PIN #’s created for each condo if they were to be sold individually. 

Past due condo association dues (approx. $40,000) will be paid by seller prior to closing.
 
Built in 2005, the building is well located right next to a Metra train station and has ample street parking. 

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:

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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 has expired

Auction Expired because there were no bids
Auction started March 18, 2015 11:00 am CDT

Auction Information

ONLINE-ONLY AUCTION

Bidding Starts: March 18, 2015 11:00 am CDT

Bidding Ends: March 20, 2015 11:00 am CDT

Location: 9662-9698 Franklin Avenue, Franklin Park, IL, 60131

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.


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