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Description
SOLD
New Suggested Opening Bid: $200,000 (Reduced from $250,000)
Buyer‘s Premium: 6%
Cooperating Broker‘s Commission: 2%
Lot Size: Approx. 5.77 Acres
2015 Taxes: $19,668.72
PIN #: 18-19-05-276-006
Zoning: B-3
AS IS SALE
This 2 story hotel is currently vacant with 90 air-conditioned rooms, refrigerators, microwaves, private bathrooms with shower/tub combinations. Amenities include indoor pool, fitness center, one banquet hall (seating for 400), and free self parking.
Operate as a Hotel or Develop on Nearly 6 Acres Prime for Development.
This hotel is within close proximity to the Stephenson County Historical Museum, Oscar Taylor Home, Winneshiek Playhouse and Silver Creek Museum.
Click here for recent article relating to the property: http://www.journalstandard.
Contact the City of Freeport, Community Development Director, Alex Mills at 815-235-8221 or email amills@cityoffreeport.org for zoning questions. Also note, per communications received from Alex Mills “This property has been condemned by the City of Freeport for numerous health, life and safety code violations. It cannot be occupied in the present condition. Any potential bidder must fully acknowledge that upon transfer of ownership, they become solely responsible for all necessary repairs and must follow City ordinance with regard to submitting appropriate plans for the issuance of building permits, or for a demolition permit in the event demolition is the desired outcome. Proof of sufficient funding, as determined by the City, will be required prior to the issuance of any permits. Furthermore, any potential bidder and/or buyer must explicitly acknowledge that they become the responsible party for any potential fines, citations or legal action that may be brought against them by the City of Freeport for failure to maintain, repair or demolish the property and structures upon it.”
To review the documents for this property, please follow these 3 simple steps:
- Register on our website or log in with your existing account.
- Go to the Documents tab, click a document that you wish to review, and accept the confidentiality agreement terms by entering your password.
- You may now download the document.
Total Bids Placed:
Auction has expired
Auction Expired because there were no bidsAuction started | June 15, 2018 12:00 am CDT |
Auction Information
ONLINE-ONLY AUCTION
Bidding Starts: June 15, 2018 12:00 am CDT
Bidding Ends: June 15, 2018 2:00 pm CDT
Location: 1300 East South Street, Freeport, IL, 61032
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 5% Buyer's Premium in effect for this auction.
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