Bank Owned: Pine Meadows Office Campus – Commercial Office 3rd Floor Condo Units

Location: 900 Technology Way, Libertyville, IL, 60048

Bank Owned: Pine Meadows Office Campus – Commercial Office 3rd Floor Condo Units

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Description

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Entire 3rd floor (Units 310-W, 320-W, 330-W, 340-W, 350-W, 360-W) available for pre-auction purchase.

Previously Valued To: $1,679,040 ($110 sf)

Minimum Bid/Reserve Price: $1,144,800 ($75 sf)

Buyer’s Premium: 5%

Cooperating Broker’s Commission: 2%

Building Class: A

Building Size: Approx. 45,000 sf

Total Available Square Feet:  Approx. 15,264 sf

Zoning: O-2

Annual Association Dues:  $3.82 psf

Unit Sizes:

Unit 310-W – Approx. 3,192 sf

Unit 320-W – Approx. 1,838 sf

Unit 330-W – Approx. 2,542 sf

Unit 340-W – Approx. 3,246 sf

Unit 350-W – Approx. 1,830 sf

Unit 360-W – Approx. 2,616 sf

PIN #:

11-18-104-049 – Unit 310-W; 320-W; 330-W; 340-W; 350-W; 360-W (2013 Taxes $29,377.39) 

The building was constructed in 2006 consisting of a office condominium development offering an architecturally stunning building in a popular location. This three story elevator building can accommodate any professional business or medical user looking for an outstanding location with excellent access and exposure. These never-occupied office condos are provided in a rare “vanilla-box” condition that includes; electrical, drywall, drop ceiling with lighting fixtures and existing HVAC system. The roof is less than 9 years old. There are over 400 parking spaces available which are not deeded or assigned which currently exceeds the approved plan for entire development of 5.02 parking spaces per 1000 sf.

The property is zoned O-2 Office, Manufacturing & Distribution Park. Permitted and Special Permitted uses are listed at http://www.libertyville.com/DocumentCenter/View/12667  (the numbers after each use are tied to the NAICS 2007 system you can search these at http://www.census.gov/eos/www/naics/ ).

Prime Libertyville location in close proximity to Condell Medical Center, Winchester Road and Route 45. Easy access to I-94. Impressive location for the most discerning business owners.

Seller financing available.  Seller is current on association dues and taxes.

**If all 10 available units are not sold in bulk by 4/18, the entire 3rd floor will be available for either pre-auction purchase or online bidding in the 4/20-4/22 online auction with a minimum bid of $1,144,800 ($75 psf).

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 August 28, 2015 12:00 am CDT

Auction Information

ONLINE-ONLY AUCTION

Bidding Starts: August 28, 2015 12:00 am CDT

Bidding Ends: August 28, 2015 12:00 pm CDT

Location: 900 Technology Way, Libertyville, IL, 60048

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.

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