morton grove-6015 dempster real estate auction

8/10/2019 Morton Grove-6015 Dempster Real Estate Auction

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Commercial Storefronton Busy Dempster St.

Daniel J. HymanPresident(312) 338 - [email protected]

6015 Dempster St. | Morton Grove, IL

Min. Bid: $ 195,000

Greg BlockExecutive Vice President(312) 338 - [email protected]

AUCTION

OCT. 30

Plus BuyersPremium

Disclaimer: Millennium Properties R/E is the owners designated agent and makes no warranties or representations as to the accuracy or completeness of the information con-

tained herein. The information has been obtained sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale. This property is being sold

on an AS-IS, WHERE-IS basis with no representations as to the physical, financial or environmental conditions.

Investment Highlights

2,400 SF commercial storefront

Potential to divide for multiple tenants

Previously used as an office and built

out with cubicles and private offices

Attached two car garage

Small employee parking lot at rear of site

Land Area: 3,050 SF Traffic Count: 31,300 cars daily

Short drive from Edens Expressway

Zoning: C-1, general commercial

Previous Sale Price: $365,000

Taxes (2013): $8,335

Property Highlights

Located on busy Dempster St., this 2,400square foot commercial storefront waspreviously used as a single tenant of-fice. The building features a large cubiclearea and several private offices but couldpotentially be divided for multiple tenants.A small parking lot is available for employ-ees and the property includes a two cargarage for parking or storage.

Area Highlights

Morton Grove is a largely residentialcommunity in the northwest suburbs of

Chicago. Dempster is a major commercialcorridor in the area, with a number of localand national businesses located nearby.
http://www.mpirealestate.com/propertieshttp://www.mpirealestate.com/


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Daniel J. Hyman(312) [email protected]

6015 Dempster St. | Morton Grove, IL Min. Bid: $ 195,000Plus Buyers Premium

Greg Block(312) [email protected]

Disclaimer: Millennium Properties R/E is the owners designated agent and makes no warranties or representations as to the accuracy or completeness of the information con-

tained herein. The information has been obtained sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale. This property is being sold

on an AS-IS, WHERE-IS basis with no representations as to the physical, financial or environmental conditions.

Plat Map

DEMPSTER ST

AUSTINAVE


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TERMS OF SALE

CASHIERS CHECK REQUIRED TO BID

All bidders registering at the auction will be required to bringa cashiers check payable to Millennium Properties R/E, Inc.in the amount assigned to each property. Please refer tothe second page to verify the Cashiers Check Required toBid amount for the property you intend to bid on. Only thesuccessful high bidder for each property will be required

to tender their check(s) at the conclusion of the auction;however all bidders must show funds to gain access to theauction. Bidders that plan to bid on more than one propertywill be required to make the required deposit for eachproperty on which he/she is the highest bidder.

BUYERS PREMIUM

The purchaser shall pay a premium based on a percentageof the high bid price indicated in the Agreement. The buyerspremium of 8.0% shall be added to the final bid and insertedin the Agreement to determine the total purchase price.

AGENCY DISCLOSURE

Millennium Properties R/E, Inc. (Auctioneer) and all otherlicensees employed by or associated with the Broker,represent the Seller in the sale of these properties.

AUCTION FORMAT

All bidding is open and public. To bid during the auction,qualified bidders need only raise your hand, shout out yourbid or instruct an Auctioneers bidder assistant to call outyour bid for you.

ATTORNEY REVIEW RECOMMENDED

Information contained in this brochure and all otherauction-related material, such as the Bidders InformationPackage, should be carefully reviewed by an attorney priorto the auction and is subject to and may be supersededby (a) the approved Real Estate Sale Contract, as well asby (b) announcements made from the podium prior to thecommencement of bidding.

REQUIREMENTS OF THE SUCCESSFUL BIDDER

The successful high bidder on each property will berequired to sign the bidders card upon the conclusionof bidding, acknowledging the purchase and tender therequired cashiers check(s) as initial down payment to the

Auctioneers assistant. The check(s) shall be made payable

to Millennium Properties R/E, Inc. as Escrow Agent. Thehigh bidder shall then immediately sign the Agreement. TheAgreement shall supersede all other materials, including theTerms of Sale relating to the sale of Property.

OFFERING METHOD

Subject to Minimum Bid

If the Property is being offered Subject to a Minimum Bid, itshall become an Absolute sale upon reaching or exceedingthe Published Minimum Bid. The Auctioneer reserves theright to ask for an opening Bid other than the publishedsuggested opening Bid.

EARNEST MONEY

The Successful Bidder shall immediately tender toMillennium Properties R/E, Inc., as escrow agent, thecashiers check as outlined in the second page. This initiadown payment must be increased to ten percent (10%) ofthe purchase price within five (5) business days followingthe full execution of this Contract. The Earnest Money shalbe applied to the Purchase Price.

CLOSING DATEAll sales will close on or before the dates stated belowat which time the purchaser will pay the balance of thepurchase price. Each property shall close on or beforeNovember 20, 2014.

TITLE INSURANCE

The purchaser shall receive standard owners title insurancepolicy showing the title to be free from all encumbrancesexcept permitted exceptions specified in the Agreement.If you wish to have title insurance with respect to surveymatters, you must produce a survey prior to closing. If youwish to have extended title coverage, you will need to pay

any costs above and beyond the provided standard ownerstitle insurance policy.

INSPECTION OF THE PROPERTY

These properties are being sold on an AS-IS, WHERE-ISbasis with no representations as to the physical, financiaor environmental conditions. Your complete inspection ofthe property by your experts at the designated time prior tothe auction is encouraged. Those inspecting the propertyassume all risks associated with any inspection.

CONDUCT OF THE AUCTION

Neither Seller, Sellers agents or Auctioneer is permitted to

bid at the auction. Conduct of the auction and increments obidding are at the direction and discretion of the AuctioneerSeller and Auctioneer reserve the right to refuse admittanceto or expel anyone from the auction premises for interferencewith auction activities, nuisance, canvassing, solicitingor other reasons deemed necessary by the Auctioneer. Inthe event of a dispute between bidders, the Auctioneershall make the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the propertyfrom auction. If any disputes should arise following theauction, the Auctioneers records shall be conclusive inall respects. Because of the pace of the Auction bidding

Auctioneer is not able and therefore is not obligated torecognize nor record each of the bidders at any bid leveduring open outcry except the high bidder. Auctioneer wiluse its reasonable efforts to register persons bidding at the

Auction, but cannot represent or warrant that all Auctionbidders have been properly registered.

BUYERS CHOICE BIDDING

Some properties may be offered in a Buyers ChoiceBidding System. In that case, all properties will be listedby property number on a display next to the AuctioneerBidders will bid for the right to choose any of the propertieson the display in each round of bidding. Bidders will not


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be bidding on one specific property, but rather for the rightto choose from the POOL of available properties. Once aproperty(ies) is selected, it will be removed from the displayand a new round of bidding will begin for the remainingproperties. Each round of bidding is completely separateand each winning bidder will make their choice from theremaining POOL. The same procedure will continue untilall properties on the display have been sold. Seller reservesthe right to add or remove properties from the POOL

between rounds.

AUCTION LOCATION

The Auction will be held on Thursday, October 30, 2014 at200 W. Madison St. in Chicago on the 11th Floor. When youarrive at 200 W. Madison St., you will need to check in at thesecurity desk with a photo ID. Once you have checked in,you will be directed to the 11th Floor, where you will need tocheck in for the auction.

THE DAY OF THE AUCTION

We recommend bidders arrive at 200 W. Madison inChicago at 6:00PM CDT in order to register, present your

designated cashiers check, have any last minute questionsanswered and obtain preferred seating. When you arrive at200 W. Madison St., you will need to check in at the securitydesk with a photo ID. Once you have checked in, you willbe directed to the 11th Floor, where you will need to checkin for the auction Registration will go on continuously forthe hour preceding the auction, with the auction beginningpromptly at 7:00PMCDT.

BROKER PARTICIPATION INVITED

A referral fee in the amount of two percent (2.0%) of thehigh bid price will be paid by Seller to the real estate agentor broker acting as a Buyer Broker, whose Client pays for

and closes on a property. To qualify for the referral fee, thereal estate agent or broker must: (a) be a licensed real estateagent or broker in the state in which the property is locatedwho will abide by the National Association of RealtorsCode of Ethics; (b) register the Client by certified mail returnreceipt requested, on company stationery, which must besigned by both broker and Client and confirm the buyer-broker arrangement (Registration), with MillenniumProperties R/E, Inc., 200 W. Madison Street, 36th Floor,Chicago, IL 60606. Attention: Auction Project Coordinator,by October 16, 2014; (c) insure that the Registration isreceived before any inspection of the property by the Client;(d) sign in and attend a scheduled Open House with theClient; (e) attend the auction with the Client and bid withor for the Client; and (f) insure that the Buyers Premium isincluded in Real Estate Sale Contract signed by the Client.

All Registrations accepted will be acknowledged by theAuctioneer. Each participating agent or broker must bringthis acknowledged Registration to the auction for registrationverification purposes. A complete file of the Registration onall Clients will be maintained. No Broker registration willbe recognized on a Client who has previously contractedor been contacted by the Sellers, their representatives or

Auctioneer. Referral fees will be paid upon closing by Sellersand receipt of all commissions by Auctioneer. Referral fees

are based on the high bid amount. No referral fees will bepaid by the seller, if the broker, the brokers agents or amember of the brokers immediate family is participating inthe purchase of the property. An affidavit will be requiredcertifying that the broker is not acting or participating in anyway as a principal. No sub-agency shall be offered to anybroker by Auctioneer. There can be NO EXCEPTIONS to thisprocedure and no oral Registrations will be accepted. If areferring broker has not met all of these requirements, no

referral fee will be paid to the referring broker, even if thereferring brokers Client purchases the property.

DISCLAIMER

The information contained in this brochure is subject toinspection and verification by all parties relying on it. Sellerstheir agents and Millennium Properties R/E, Inc. assume noliability for its inaccuracy, errors or omissions. ALL SQUAREFOOTAGE, DIMENSIONS AND TAXES IN THIS BROCHURE

ARE APPROXIMATE. This offering may be withdrawnmodified or cancelled without any notice at any time and issubject to prior sale. This is not a solicitation to residents oany state where this offering is prohibited by law.

AddressMinimum

Bid

Cashiers Check

Required to Bid

4244 W. Diversey Ave.Chicago, IL

$425,000 $20,000

NWC Routes 71 & 47Yorkville, IL

$300,000 $15,000

6015 W. Dempster St.Morton Grove, IL

$195,000 $10,000

3261 N. Ridge, Unit 108Arlington Heights, IL

$140,000 $7,000

3630 N. Avondale Ave.

Avondale Estates Lot 20Chicago, IL $136,000 $6,000

3650 N. Avondale Ave.Avondale Estates Lot 12Chicago, IL

$136,000 $5,500

3634 N. Avondale Ave.Avondale Estates Lot 19Chicago, IL

$132,000 $5,000

935 W. 63rd St.Chicago, IL

$60,000 $3,500

Rte. 47 & Vander Karr Rd.Hebron, IL

$39,000 $3,000

7900 S. Greenwood Ave.

Chicago, IL$27,600 $2,500

morton grove-6015 dempster real estate auction

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