Absolute Auction of Former Bank Branch in Franklin Park, IL (Cook County)
Selling Absolute - No Minimums, No Reserves
Auction Location
Sold for $5,000
Sold for $5,000
Auction Date: Wednesday, April 10th at 10 AM EDT
Property #501 - 3044 Rose Street & Franklin Ave, Franklin Park, IL 60131
3044 Rose Street consists of an 11,000 sf footprint brick building with basement built ca. 1976 on 1.44 acres with frontage and curb cuts on Rose Street, Minneapolis Avenue, and Gustav Street. There is a .04 acre vacated alley between the building and the parking area fronting on Minneapolis and Gustav. Total of 83 parking spaces and 4 drivethru lanes. Site consists of 14 tax parcels. A Phase 1 study determined that certain environmental conditions were found to exist and remediated and a No Further Remedation letter from the state of Illinois is on file.
9601 Franklin Avenue is an excess parking lot consisting of 6 lots fronting on Franklin Ave, Rose Street, and Minneapolis, and will be sold separately. Franklin Ave parcels are 12-28-209-005-0000 thru 12-28-209-0010-0000.
9601 Franklin Avenue is an excess parking lot consisting of 6 lots fronting on Franklin Ave, Rose Street, and Minneapolis, and will be sold separately. Franklin Ave parcels are 12-28-209-005-0000 thru 12-28-209-0010-0000.
Inspection: Tuesday March 26th 10-12 noon
DIRECTIONS TO SITE: From I-290, Exit 13B East on West North Avenue, left on Rose to property on left before Franklin
Sale Manager : Gary Niemeier @ 618-377-1140 or auctiongary@gmail.com
PLEASE NOTE:
(1) “Original Phase 1 for 3044 Rose St and 9601 Franklin Ave” is the original Phase I that was performed on the combined properties, so some of it is pertinent to the parking lot, other portions cover the Banking Center building property.
(2) “9601 Franklin Ave Environmental Condition and Proposed Closure Strategy_18Mar2013” is also included in our documents section. The Seller will not be providing a stand-alone Phase I for the parking lot, nor will they be providing a certified Phase I at closing.This is the best document for you, the buyer, to understand the history of the site from an environmental standpoint, and how the seller plans to remediate it.
(3) The reimbursed expenses due to the seller in paragraph 6.4of the Franklin Ave. PSA-Auction Contract has been reduced to $2,500.00 from the standard $5,200.00 because they will not be providing a Phase I. They will only provide title commitment and survey.
(4) Prospective buyers should pay close attention to Section 5.4 through 5.6 of the Franklin Avenue PSA pertaining to environmental matters and 6.1 pertaining to possible closing extensions while the Seller pursues remediation.
(5) On Monday, April 8th, the bank received a letter from the City of Franklin Park outlining code violations on the Rose Street building- see Documents section of this website listing. Winning Bidder will be required to sign an Affadavit acknowledging that they are accepting the property with these violations.
THE SELLER HAS MADE CHANGES TO THE CONTRACTS ON APRIL 9TH; PLEASE REVIEW REVISED CONTRACTS PRIOR TO BIDDING
Questions? Visit www.auctionEbid.com , email info@auctionEbid.com, or 770-980-9565
Auctions conducted in cooperation and conjunction with:
Ahrens & Neimeier Auctioneers IL License #040000762
