93% Leased Medical Office/Office Building in Palatine, IL
Starting bid: $700,000.00
Auction has not started yet
Start On: August 12, 2024 11:00 am CDT
Time Until Start: 16 days, 7 hours, 8 minutes
Ending On: August 14, 2024 11:00 am CDT
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Description
Minimum Bid/Published Reserve Price: $700,000
Property Type: Office
Property Subtype: Medical
Building Size: 14,500 SF
Building Class: B
Year Built: 1971
Tenancy: Multiple
Building Height: 2 Stories
Typical Floor Size: 7,083 SF
Building FAR: 0.42
Land Acres: 0.79 AC
Zoning: R-1
Parking: 46 Spaces (3.25 Spaces per 1,000 SF Leased)
Most of the current tenants in this approximately 93% leased building have been tenants for fourteen years. There are only two units currently vacant and all of the units are all individually metered.
The building features two public bathrooms and a chair lift to the 2nd floor. All but one of the units has its own, private bathroom. There is ample parking with 46 spots in the paved parking lot.
Located just five minutes from the proposed Chicago Bears Stadium and right off I-53 and I-290, this is a prime location for an office building in Palatine.
**Pre-Auction Offers Highly Encouraged!**
Total Bids Placed:
| Auction starting | August 12, 2024 11:00 am CDT | ||
Auction Information
ONLINE-ONLY AUCTION
Bidding Starts: August 12, 2024 11:00 am CDT
Bidding Ends: August 14, 2024 11:00 am CDT
Location: 855 East Palatine Road, Palatine, IL, 60074, United States
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 ($6.00 minimum applies) in effect for this auction.
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