Multi-Tenant Office Building

901-913 Martin Luther King Dr, East St. Louis, IL 62207
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901-913 Martin Luther King Dr, East St. Louis, IL 62207
Auctioned: 9:30 AM Tuesday, January 26, 2010
901-913 Martin Luther King Dr, East St. Louis, IL 62207
211883 00-1354--JL/01-2010

The property consists of three interconnected, single-story commercial office buildings built in 1925, 1944 and 2000. Situated on an irregular shaped parcel of land, the property offers frontage on three (3) streets and has a parking lot located in the rear. Current zoning is M-1, Medium Manufacturing and Industrial.
Current tenants include H&R Block and the Children's Home and Aid Society of Illinois, and occupy 15% of the property.
Property ID:211883

Auctioned: 9:30 AM Tuesday, January 26, 2010

Details: 46,900+/- sf on approx 2.21ac.

Legal Description: Exhibit A Part of Blocks 61 and 62 of "THE TOWN OF EAST ST. LOUIS" as shown by plats thereof recorded in Plat Book "A" on pages 51 and 87 of the St. Clair County records and also part of the alley lying between said blocks, St. Clair County, Illinois, being more particularly described as follows: Beginning at a cross cut at the Westernmost corner of Block 61; thence Northeastwardly along the Northwest lines of Blocks 61 and 62, a distance of 400 feet to an iron pipe at the Northernmost corner of Lot 8 of Block 62; thence Southeastwardly along the Northeast line of Block 8, a distance of 150 feet to an iron rod at the Easternmost corner thereof; thence Southwestwardly along the Southeast line of said Lot 25 feet to an iron rod in the Northeast line of the Southwest 75 feet of Lot 5 of Block 62; thence Southeastwardly along said Northeast line 150 feet to an iron rod in the Southeast line of Block 62; thence Southwestwardly along said Southeast line 75 feet to an iron rod in the Southwest line of Lot 5 of Block 62; thence Northwestwardly along said Southwest line 150 feet to an iron rod in the Northwest line of Lot 6 of Block 62; thence Southwestwardly along said Northwest line 50 feet; thence Southeastwardly and parallel with the Northeast line of said Lot 6, a distance of 3 feet; thence Southwestwardly and parallel with the Northwest line of Lot 6, a distance of 20 feet to the Northeast line of the Southwest 30 feet of Lot 6 of Block 62; thence Southeastwardly along said Northeast line 147 feet to the Southeast line of Block 62; thence Southwestwardly along said Southeast line 40 feet to the centerline of a 20 foot wide alley; thence Northwestwardly along said centerline 70.42 feet to its intersection with the Northeasterly prolongation of the Northwest line of the Southeast 20.42 feet of Lot 2 of Block 61; thence Southwestwardly along said Northwest line 190 feet to the Southwest line of Block 61; thence Northwestwardly along said Southwest line 229.58 feet to the point of beginning. Excepting coal, oil gas and other minerals excepted or reserved in prior conveyances, if any. Situated in the County of St Clair and the State of Illinois. Old Republic

Auctioned: 9:30 AM Tuesday, January 26, 2010


Disclosures: Each high bidder must make a 10% ($2500.00 MINIMUM - whichever is greater) non-refundable deposit per property immediately following auction. Cash, cashier's checks, and personal checks (electronically processed) are accepted.

Seller shall have 7 business days to approve the high bid.



A 2% Buyers premium apply to this property .



30 DAY CLOSING FROM SELLER ACCEPTANCE DATE.



BUYER ACKNOWLEDGES IT IS THE BUYER'S SOLE RESPONSIBILITY AND BUYER'S EXPENSE TO OBTAIN AN OCCUPANCY PERMIT/INSPECTION AND BRING PROPERTY INTO FULL COMPLIANCE WITH CITY CODES PRIOR TO OCCUPANCY. BUYER ACCEPTS ALL RESPONSIBILITY FOR ANY REMEDIATIONS, FEES, OR TERMS REQUIRED BY THE AUTHORITY THEREOF, WHICH MAY OR MAY NOT INCLUDE DEMOLITION, ESCROW FEES, OR HABITATION CERTIFICATES. LEASE(S), FINANCIAL STATEMENT(S), AND PROPERTY ENVIRONMENTAL REPORT(S) WERE MADE AVAILABLE UPON REQUEST PRIOR TO THE AUCTION.



PROPERTY MAY BE SUBJECT TO UNDISCLOSED CITY/COUNTY REQUIREMENTS FOR TRANSFER/TRANSFER TAX AND BUYER AGREES TO BE RESPONSIBLE FOR COMPLIANCE INCLUDING ALL COSTS (INCLUDING ESCROW FUNDS), REMEDIATIONS AND/OR INSPECTIONS THAT MAY BE NECESSARY.


Disclosures: Each high bidder must make a 10% ($2500.00 MINIMUM - whichever is greater) non-refundable deposit per property immediately following auction. Cash, cashier's checks, and personal checks (electronically processed) are accepted.

Seller shall have 7 business days to approve the high bid.



A 2% Buyers premium apply to this property .



30 DAY CLOSING FROM SELLER ACCEPTANCE DATE.



BUYER ACKNOWLEDGES IT IS THE BUYER'S SOLE RESPONSIBILITY AND BUYER'S EXPENSE TO OBTAIN AN OCCUPANCY PERMIT/INSPECTION AND BRING PROPERTY INTO FULL COMPLIANCE WITH CITY CODES PRIOR TO OCCUPANCY. BUYER ACCEPTS ALL RESPONSIBILITY FOR ANY REMEDIATIONS, FEES, OR TERMS REQUIRED BY THE AUTHORITY THEREOF, WHICH MAY OR MAY NOT INCLUDE DEMOLITION, ESCROW FEES, OR HABITATION CERTIFICATES. LEASE(S), FINANCIAL STATEMENT(S), AND PROPERTY ENVIRONMENTAL REPORT(S) WERE MADE AVAILABLE UPON REQUEST PRIOR TO THE AUCTION.



PROPERTY MAY BE SUBJECT TO UNDISCLOSED CITY/COUNTY REQUIREMENTS FOR TRANSFER/TRANSFER TAX AND BUYER AGREES TO BE RESPONSIBLE FOR COMPLIANCE INCLUDING ALL COSTS (INCLUDING ESCROW FUNDS), REMEDIATIONS AND/OR INSPECTIONS THAT MAY BE NECESSARY.
Terms of Sale:

Registration at the auction confirms your agreement to the terms and conditions of sale as stated in the Contract for Sale and its Addenda (the 'Contract') which are incorporated by reference into your bidding. DO NOT BID unless you have registered, received a Bidder's Card and Sale Day Notes and have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming a high bidder.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Read the Contract and Sale Day Notes to determine the existence of any disclosures, exclusions, representations and disclaimers. Do not bid if you have not inspected the property. By bidding you agree to all disclosures.

Buyers receive a deed and insurable title to each property, as evidenced by the Title Insurance offered by the Closer indicated in the Contract. Current year's property taxes are pro-rated through day of closing as customary.

A Buyer's Premium of 2% will be added to the high bid and included in the total purchase price. Please see the Sale Day Notes, The Contract for Sale, and/or the Auctioneer for specifics about the property you wish to bid on.

Each high bidder must make a 10% non-refundable deposit per property ($2,500 MINIMUM - whichever is greater) immediately following auction. Cash, cashier's checks, and personal checks (electronically processed) are accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. The balance of the purchase price and all closing costs are due at closing, which shall occur within thirty (30) days of the Seller's acceptance. Closing costs will include title exam, title policy, closing fee, filing costs and any other fees noted. If for any reason Seller does not perform or accept the terms of the Contract, the sole remedy shall be the return of Buyer's deposit.

Bidding starts at the nominal Opening Bid indicated and is open to the public. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding usually takes less than 3 minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders as specified in 21 NCAC 4B. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.

Your inspection of the property and attendance at this auction are at your own risk. Broker and Seller, their agents and employees, expressly disclaim any "invitee" relationship and shall not be liable to any person for damage to their person or property while in, on or about these properties, nor shall they be liable for any defects, dangers or conditions on the property. All persons enter the property and attend the auction at their own risk and shall defend, indemnify, and save harmless Broker and Seller, their agents and employees, from any and all liability attendant thereto.

All auctions are subject to court or seller approval. Most sales are approved within 7 days. Buyers are not allowed possession until Closing and filing of the deed, at which time the property should be re-keyed. If for any reason the court or Seller approval is not granted, the Down Payment shall be returned in its entirety to the high bidder. "Showing" requests from Buyers after the auction may not be able to be accommodated.

Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Please read the Contract and Sale Day Notes for a full and complete understanding of Williams & Williams and Seller's disclaimers. Bidders are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the Seller or their agents and employees. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.

Auction Network
TERMS & CONDITIONS OF SERVICE

The property offered in this auction will be offered and sold by Williams & Williams Marketing Services, Inc. ("Williams & Williams"). Any questions regarding the auction process or a property should be directed to Williams & Williams or its designated representative. Auction Network, LLC ("Auction Network") serves solely as the online bidding service (the "Service") for Williams & Williams. Your use of the Service is governed by these Auction Network Terms & Conditions of Service, and the Auction Network Terms of Use located at the following URL: http://www.auctionnetwork.com/Site/TermsOfUse.asp, as amended from time-to-time by posted notices or oral announcements made during any auction.

Williams & Williams serves as the auctioneer, and represents the owner of the property at auction. The auction and conveyance of each property shall be governed by property specific Contract for Sale, Sale Day Notes, Disclosures, and the Williams & Williams Terms & Conditions of Sale. These documents govern your bid and the sale of each property, and can be accessed and reviewed at the Williams & Williams property specific web page.

DO NOT BID unless you have read the Williams & Williams Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, and the Sale Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, SALE DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.

Auction Network, Williams & Williams and the Seller are not responsible for technical difficulties during online or remote bidding. Occasionally, the Auction Network online bidding interface may be unable to submit bids in the live auction due technical difficulties including, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 1 day prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf.

In the event of any conflict between Auction Network's Terms & Conditions of Service and the Williams & Williams Terms & Conditions of Sale, the Williams & Williams Terms & Conditions of Sale shall control in each instance.

Auction Network has no authority to, and does not provide, any guarantee, warranty, or covenant, of any kind or nature, regarding a property. Per the Williams & Williams Terms & Conditions of Sale, all properties auctioned are otherwise sold "AS-IS, WHEREIS" without any representation or warranty, express or implied, of any kind by Williams & Williams, Auction Network, or the respective seller, and with no financing, inspection or other contingencies to sale. Buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Williams & Williams. Failure of a Buyer to be fully informed on the condition of a property will not constitute grounds for any claim adjustment or right to cancel sale.

Neither Auction Network nor Williams & Williams assumes any risk, liability or responsibility for the authenticity of the authorship of any property or livestock offered at this auction (that is, the identity of the creator or the period, culture, source or origin, or lineage, as the case may be, with which the creation of any property is identified).

The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.

Any property may be withdrawn by Auction Network or Williams & Williams at any time before the actual sale without any liability therefore. If the auctioneer determines that any opening bid is not commensurate with the value of the article offered, he or she may reject the same and withdraw the article from sale, and if, having acknowledged an opening bid, he or she decides that any advance thereafter is insufficient, he or she may reject such advance.

These Auction Network Terms & Conditions of Service, Terms & Conditions of Use, Williams & Williams' Terms & Conditions of Sale, as well as the online buyer's rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of Oklahoma. By bidding at this auction, whether in person or by agent, order bid, telephone, online, or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the state and federal courts sitting in the State of Oklahoma.

You are registering to bid on the following properties, and as stated above, your bid, and the sale of the property, will be governed by the property specific Williams & Williams Contract for Sale, Disclosures, Sale Day Notes, and Terms & Conditions of Sale. Each of these documents are available for your review at the Williams & Williams property specific web page. DO NOT BID unless and until you review these documents. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, SALE DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.



Legal Description: Exhibit A Part of Blocks 61 and 62 of "THE TOWN OF EAST ST. LOUIS" as shown by plats thereof recorded in Plat Book "A" on pages 51 and 87 of the St. Clair County records and also part of the alley lying between said blocks, St. Clair County, Illinois, being more particularly described as follows: Beginning at a cross cut at the Westernmost corner of Block 61; thence Northeastwardly along the Northwest lines of Blocks 61 and 62, a distance of 400 feet to an iron pipe at the Northernmost corner of Lot 8 of Block 62; thence Southeastwardly along the Northeast line of Block 8, a distance of 150 feet to an iron rod at the Easternmost corner thereof; thence Southwestwardly along the Southeast line of said Lot 25 feet to an iron rod in the Northeast line of the Southwest 75 feet of Lot 5 of Block 62; thence Southeastwardly along said Northeast line 150 feet to an iron rod in the Southeast line of Block 62; thence Southwestwardly along said Southeast line 75 feet to an iron rod in the Southwest line of Lot 5 of Block 62; thence Northwestwardly along said Southwest line 150 feet to an iron rod in the Northwest line of Lot 6 of Block 62; thence Southwestwardly along said Northwest line 50 feet; thence Southeastwardly and parallel with the Northeast line of said Lot 6, a distance of 3 feet; thence Southwestwardly and parallel with the Northwest line of Lot 6, a distance of 20 feet to the Northeast line of the Southwest 30 feet of Lot 6 of Block 62; thence Southeastwardly along said Northeast line 147 feet to the Southeast line of Block 62; thence Southwestwardly along said Southeast line 40 feet to the centerline of a 20 foot wide alley; thence Northwestwardly along said centerline 70.42 feet to its intersection with the Northeasterly prolongation of the Northwest line of the Southeast 20.42 feet of Lot 2 of Block 61; thence Southwestwardly along said Northwest line 190 feet to the Southwest line of Block 61; thence Northwestwardly along said Southwest line 229.58 feet to the point of beginning. Excepting coal, oil gas and other minerals excepted or reserved in prior conveyances, if any. Situated in the County of St Clair and the State of Illinois. Old Republic
Property
901-913 Martin Luther King Dr,
East St. Louis, IL 62207
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For questions about this auction,
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Daniel Orr
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Williams & Williams
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IL Broker:

Daniel S. Nelson, Managing Broker Re Lic 471.016793


Auctioneer:

Cody Lowderman Auc Lic 441.001255
Jack Lowderman Auc Lic 440.0000699
Monte W. Lowderman Auc Lic 440000708