Chicagoland property for quick sale, 1 block from TRAIN
Great investment for restaurant on busy 26th street.
| Start Price |
USD 1,000.00 |
| Current Price |
USD 195,600.00 |
| Time Left |
- |
| Bid Count |
46 |
| Buy It Now Price |
USD 300,000.00 |
| Reserve Price |
- |
| Start Time |
Tuesday, December 02, 2008 |
| End Time |
Thursday, January 01, 2009 |
| Location |
Cicero, Illinois |
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See more about 'Chicagoland property for quick sale, 1 block from TRAIN'
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Description
• The area is a prime location in high traffic Chicagoland locale great for a possible fast food development combination like Coffe/Sandwhich or Family restaurant, etc.• Commercial Industrial - Zoning is M1, C1, C2, B1, B2• Multiple Office/Spaces for Multiple Tenants in HIGH TRAFFIC AREA!• Previous tenants have been Allstate, Auto Credit, Realty Office, Auto Dealership & Repair Shop• Free Standing Building 1 block from METRA TRAIN is vacant and ready NOW! OWNER FINANCING W/GOOD DOWN PAYMENT OR RENT TO OWN. Property has previously been an auto repair shop, converted to offices for Amaro Real Estate and Ibarra Auto Credit & Sales. The property is vacant and available for inspection with appointment. The area is prime for food service, possible rebuild/tear down opportunity with a Starbucks/Subway combination in mind would be the best possible use for the 6 pins of this property. Permitted uses are Offices, commercial/industrial space, automotive-trucking repair, currency exchange, banks-mortgage office, barber shop, beauty salon-spa, candy-ice-cream store, car wash, drug store, dry cleaning-laundry, restaurant, shoe store, studio, insurance agency, retail, food-grocery stores, billiard game room, bridal, photography, sheet metal, martial arts school, driving school, clothing store, antique, bakery, liquor store, locksmiths, pet shop, and towing. Disclosures: The eBay seller of this property, PENAJO (hereinafter referred to as “eBay Seller”), is not the legal owner of this property. Thus, any bid will be subject to the approval of the legal owner (hereinafter referred to as “Seller”). If Seller does not accept the high bid amount, then no purchase contract will be entered into, and high bidder will have no legal recourse. eBay Seller is not a licensed real estate salesperson in the State of Illinois. This property is being marketed through methods other than eBay, possibly including methods available only to Realtors, such as the MLS. eBay Seller reserves the right to cancel this listing if a suitable buyer is found through other channels.Becoming a Valid Bidder: In order to become a valid bidder, contact with the seller should be established prior to the final day of bidding. Full Name, Address, E-mail Address and Phone Number needs to be given. eBay Seller will immediately send you a confirmation that you are now a “Valid Bidder”. If you bid without doing this, your bid will be cancelled prior to the end of the auction.Signing the Contract: Within 24 hours of the end of the eBay listing, eBay Seller will contact you – if you’re the high bidder – via telephone and let you know whether Seller has accepted your bid amount or not. If they have accepted your bid, you will be asked to fax a signed a Chicago Association of Realtors Real Estate Purchase And Sale Contract (hereinafter referred to as “Purchase Agreement”), using the contract form provided on the listing. eBay Seller will obtain Seller’s signature on the Purchase Agreement and fax it back to you within an hour. You must then immediately make an initial earnest money deposit. Please see below for more information regarding earnest money. Once you have done these two things – sign the Purchase Agreement and deposit earnest money – you have now entered into a legally binding agreement with the Seller. The eBay bid itself is not legally binding; but the Purchase Agreement is.Backup Offer: At the end of the eBay listing, if more than one bidder has bid an amount acceptable to the Seller, BACKUP offers will be accepted from these bidders, at the price the bid. These bidders have no obligation to send any payment at this time, nor are they legally obligated in any way; but they do have to make an offer by signing the Purchase Agreement and faxing it back to be considered backup bidders. In the event the high bidder fails to perform, a “second chance offer” will be offered to the next highest bidder, at the price they bid. If the Seller should accept the offer by signing the Purchase Agreement, then a legally binding contract has been formed.Finalizing the Contract: Within 5 calendar days of the end of the eBay listing, you must provide 2 signed originals of the Purchase Agreement, together with the balance of 5% of the purchase price as final earnest money. Please see below for more information about earnest money. Upon receiving the two originals, together with the final earnest money, Seller will counter-sign one and mail it back to you for your records. If 2 signed originals of the Purchase Agreement and the final earnest money are not received within 5 calendar days of the end of the eBay listing, your bid will be considered null and void and Seller will move on to the next highest bidder.Contingencies: Buyer will have attorney review and inspection review of 5 business days. Buyer will have a mortgage contingency of 20 days. These time frames are not negotiable.Initial Earnest Money Deposit: Winning bidder will be required to make a $5,000 earnest money deposit via personal check within 24 hours of the end of the eBay listing and Seller acceptance of winning bid. Final Earnest Money Deposit: The second earnest money deposit in the amount of $5,000, due within 15 calendar days of the end of the eBay listing, must be in the form of a personal check. This earnest money deposit will also be held in an interest-bearing escrow account, and will be applied toward the purchase price at closing. If the high bidder fails to make either earnest money deposit on time, then his or her bid will be considered null and void. Seller will have the right to retain Buyer’s initial earnest money deposit as damages, and Seller will move on to the next highest bidder. If this happens, then eBay Seller will also leave negative feedback for the winning bidder.Payment/Financing: Buyer may finance this property through any lender of their choice. In the event that Buyer is unable to secure financing, then Seller shall have the option of providing financing for them, under the terms outlined in the Purchase Agreement. Terms of Closing: Possession will be transferred at closing. Closing must take place within 45 calendar days of the end of the eBay listing. If closing does not take place on or before this date, other than due to Seller non-performance, then Buyer will be considered to be in default, the contract will be null and void and Seller will have the right to retain all earnest money as damages.Final Disclosure: eBay Seller IS NOT the owner of the subject property. Therefore, any bid will be subject to the approval of the owner, who is the legal Seller. If Seller does not approve the high bid amount, then no purchase contract will be entered **Submit question to view property in person** On Dec-04-08 at 09:21:34 PST, seller added the following information: • The area is a prime location in high traffic Chicagoland locale great for a possible fast food development combination like Coffe/Sandwhich or Family restaurant, etc.• Commercial Industrial - Zoning is M1, C1, C2, B1, B2• Multiple Office/Spaces for Multiple Tenants in HIGH TRAFFIC AREA!• Previous tenants have been Allstate, Auto Credit, Realty Office, Auto Dealership & Repair Shop• Free Standing Building 1 block from METRA TRAIN is vacant and ready NOW! Broker participation is welcomed, Broker co-op is 2%. This property is in "as-is" condition with no underground tanks to be concerned with. OWNER FINANCING W/GOOD DOWN PAYMENT OR RENT TO OWN. Property has previously been an auto repair shop, converted to offices for Amaro Real Estate and Ibarra Auto Credit & Sales. The property is vacant and available for inspection with appointment. The area is prime for food service, possible rebuild/tear down opportunity with a Starbucks/Subway combination in mind would be the best possible use for the 6 pins of this property. Permitted uses are Offices, commercial/industrial space, automotive-trucking repair, currency exchange, banks-mortgage office, barber shop, beauty salon-spa, candy-ice-cream store, car wash, drug store, dry cleaning-laundry, restaurant, shoe store, studio, insurance agency, retail, food-grocery stores, billiard game room, bridal, photography, sheet metal, martial arts school, driving school, clothing store, antique, bakery, liquor store, locksmiths, pet shop, and towing. Disclosures: The eBay seller of this property, PENAJO (hereinafter referred to as “eBay Seller”), is not the legal owner of this property. Thus, any bid will be subject to the approval of the legal owner (hereinafter referred to as “Seller”). If Seller does not accept the high bid amount, then no purchase contract will be entered into, and high bidder will have no legal recourse. eBay Seller is not a licensed real estate salesperson in the State of Illinois. This property is being marketed through methods other than eBay, possibly including methods available only to Realtors, such as the MLS. eBay Seller reserves the right to cancel this listing if a suitable buyer is found through other channels.Becoming a Valid Bidder: In order to become a valid bidder, contact with the seller should be established prior to the final day of bidding. Full Name, Address, E-mail Address and Phone Number needs to be given. eBay Seller will immediately send you a confirmation that you are now a “Valid Bidder”. If you bid without doing this, your bid will be cancelled prior to the end of the auction.Signing the Contract: Within 24 hours of the end of the eBay listing, eBay Seller will contact you – if you’re the high bidder – via telephone and let you know whether Seller has accepted your bid amount or not. If they have accepted your bid, you will be asked to fax a signed Purchase Aggreement directly to the eBay Seller. The eBay Seller will obtain Seller’s signature on the Purchase Agreement and fax it back to you within an hour. You must then immediately make an initial earnest money deposit. Please see below for more information regarding earnest money. Once you have done these two things – sign the Purchase Agreement and deposit earnest money – you have now entered into a legally binding agreement with the Seller. The eBay bid itself is not legally binding; but the Purchase Agreement is.Backup Offer: At the end of the eBay listing, if more than one bidder has bid an amount acceptable to the Seller, BACKUP offers will be accepted from these bidders, at the price the bid. These bidders have no obligation to send any payment at this time, nor are they legally obligated in any way; but they do have to make an offer by signing the Purchase Agreement and faxing it back to be considered backup bidders. In the event the high bidder fails to perform, a “second chance offer” will be offered to the next highest bidder, at the price they bid. If the Seller should accept the offer by signing the Purchase Agreement, then a legally binding contract has been formed.Finalizing the Contract: Within 5 calendar days of the end of the eBay listing, you must provide 2 signed originals of the Purchase Agreement, together with the balance of 5% of the purchase price as final earnest money. Please see below for more information about earnest money. Upon receiving the two originals, together with the final earnest money, Seller will counter-sign one and mail it back to you for your records. If 2 signed originals of the Purchase Agreement and the final earnest money are not received within 5 calendar days of the end of the eBay listing, your bid will be considered null and void and Seller will move on to the next highest bidder.Contingencies: Buyer will have attorney review and inspection review of 5 business days. Buyer will have a mortgage contingency of 20 days. These time frames are not negotiable.Initial Earnest Money Deposit: Winning bidder will be required to make a $5,000 earnest money deposit via personal check within 24 hours of the end of the eBay listing and Seller acceptance of winning bid. Final Earnest Money Deposit: The second earnest money deposit in the amount of $5,000, due within 15 calendar days of the end of the eBay listing, must be in the form of a personal check. This earnest money deposit will also be held in an interest-bearing escrow account, and will be applied toward the purchase price at closing. If the high bidder fails to make either earnest money deposit on time, then his or her bid will be considered null and void. Seller will have the right to retain Buyer’s initial earnest money deposit as damages, and Seller will move on to the next highest bidder. If this happens, then eBay Seller will also leave negative feedback for the winning bidder.Payment/Financing: Buyer may finance this property through any lender of their choice. In the event that Buyer is unable to secure financing, then Seller shall have the option of providing financing for them, under the terms outlined in the Purchase Agreement. Terms of Closing: Possession will be transferred at closing. Closing must take place within 45 calendar days of the end of the eBay listing. If closing does not take place on or before this date, other than due to Seller non-performance, then Buyer will be considered to be in default, the contract will be null and void and Seller will have the right to retain all earnest money as damages.Final Disclosure: eBay Seller IS NOT the owner of the subject property. Therefore, any bid will be subject to the approval of the owner, who is the legal Seller. If Seller does not approve the high bid amount, then no purchase contract will be entered **CALL 773-558-3939 for an appointment to view this property in person.**
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