WILLIAMS & WILLIAMS REAL ESTATE AUCTIONS

180+/- ac Industrial Development Site

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Auction Info
Auction Date/Time:
Friday, November 20, 2020
at 11:00am CST
Auction Location:
Hampton Inn & Suites Bolingbrook 165 Remington Blvd
Bolingbrook, IL 60440
or bid live from anywhere at auctionnetwork.com
Open Public Inspections:
Buyers may call 800.801.8003 to schedule a drive-thru viewing of the property for the week of October 19-23. No walk-ups will be permitted.

Property is being offered by: Williams & Williams7140 S. Lewis Ave Ste 200, Tulsa, OK 74136800.801.8003

Lot size per county records. IL Broker: Daniel S. Nelson, Managing Broker Re Lic 471.016793 Auctioneer: Cody Lowderman Auc Lic 441.001255

Note: A Buyer’s Premium (Buyer’s Fee in WI) will apply for this property. Buyer pays a $199 Technology Fee at closing. Please see Terms of Sale for details.

Property Type:
Land
Square Footage:
N/A
Lot Size:
180+/- ac
Year Built:
N/A
Property ID:
358721
Live On Location
301 West 2nd Street
Lockport, IL 60441
Property Type:Land
Description:180+/- ac
Bidding Closed
Auctioned
301 West 2nd Street, Lockport, IL 60441

Due to ongoing COVID restrictions by the Governor of Illinois for Region 7, onsite attendance will be limited. Only bidders that have completed the bidder qualification steps will be allowed to bid. Qualified bidders can also participate online at AuctionNetwork.com during the live auction, and this is strongly encouraged. Call 800.801.8003 for assistance or go online to AuctionNetwork.com to create a free account or to find out how to qualify to bid.

Extensive Due Diligence materials are available
Materials are available to interested parties that complete, sign, and return a Site Access, Due Diligence and Confidentiality Agreement. This Agreement is available in the “Helpful Tools & Links” section on the right of this webpage. This is a requirement in order to participate in the auction.

180+/- ac in the Star Business Park, fully zoned industrial. Located just 40 minutes from Chicago, with CN and BNSF railroads located adjacent to the east and west, respectively, tax increment financing established to help offset certain infrastructure costs, barge access, ripe for development. An exclusive easement for offsite stormwater storage enables the majority of stormwater detention to be handled offsite preserving primary land for development.

Water, sewer and other utilities are already available to multiple areas on the site. Onsite are located both a fabrication shop and storage building. Deed restrictions require that the Property be used for industrial or commercial uses, protecting future development.

Opportunity to obtain lease with the Illinois Department of Natural Resources (IDNR), for access to the I&M Canal and the 90-foot corridors on either side, which can support development (e.g. the west side of the I&M Canal corridor is ideally suited for establishment of a road for development of Business Park 3) thereby further preserving primary land for development (Seller has a similar lease, but IDNR leases are not assignable).

The Property was previously a petroleum refinery, but soils have been remediated, including removal of soil from ground surface to bedrock, with No Further Action (NFA) letters for soil issued by IEPA. Groundwater monitoring wells are in place and Seller will retain certain limited access for ongoing monitoring and limited work in order to obtain groundwater NFA letters from IEPA.

Fabrication Shop
- 50'w x 200'l outside dimensions;
- 17'10” inside working height to rafters;
- 3 mechanical bay doors: two doors are 16'w x 14't. one door is 14'w x 12't;
- 3 phase 480v 400 amp and single phase 220v/110v power available;

Storage Building
- Main Metal Building: 60' x 48' metal;
- Drywall and insulation with wooden trusses making 12' ceilings with an 8/12 pitch roof;
- 200 amp electrical service, sewer to city system never in use (one floor drain in middle of building, no stains around);
- One 8' overhead door

Questions?

This individual seller chose to auction their property for a time-definite sale. If you have a property to sell, please contact Customer Service at 800.801.8003


Live On Location
301 West 2nd Street
Lockport, IL 60441
Property Type:Land
Description:180+/- ac
Bidding Closed
Auctioned

Property is being offered by: Williams & Williams7140 S. Lewis Ave Ste 200, Tulsa, OK 74136800.801.8003

Lot size per county records.

IL Broker: Daniel S. Nelson, Managing Broker Re Lic 471.016793
Auctioneer: Cody Lowderman Auc Lic 441.001255

Auction Date/Time:
Friday, November 20, 2020
at 11:00am CST
Auction Location:
Hampton Inn & Suites Bolingbrook 165 Remington Blvd
Bolingbrook, IL 60440
or bid live from anywhere at auctionnetwork.com
Open Public Inspections:
Buyers may call 800.801.8003 to schedule a drive-thru viewing of the property for the week of October 19-23. No walk-ups will be permitted.

Note: A Buyer’s Premium (Buyer’s Fee in WI) will apply for this property. Buyer pays a $199 Technology Fee at closing. Please see Terms of Sale for details.

Property Type:
Land
Bedrooms:
N/A
Bathrooms:
N/A
Square Footage:
N/A
Lot Size:
180+/- ac
Year Built:
N/A
Property ID:
358721
301 West 2nd Street, Lockport, IL 60441

Due to ongoing COVID restrictions by the Governor of Illinois for Region 7, onsite attendance will be limited. Only bidders that have completed the bidder qualification steps will be allowed to bid. Qualified bidders can also participate online at AuctionNetwork.com during the live auction, and this is strongly encouraged. Call 800.801.8003 for assistance or go online to AuctionNetwork.com to create a free account or to find out how to qualify to bid.

Extensive Due Diligence materials are available
Materials are available to interested parties that complete, sign, and return a Site Access, Due Diligence and Confidentiality Agreement. This Agreement is available in the “Helpful Tools & Links” section on the right of this webpage. This is a requirement in order to participate in the auction.

180+/- ac in the Star Business Park, fully zoned industrial. Located just 40 minutes from Chicago, with CN and BNSF railroads located adjacent to the east and west, respectively, tax increment financing established to help offset certain infrastructure costs, barge access, ripe for development. An exclusive easement for offsite stormwater storage enables the majority of stormwater detention to be handled offsite preserving primary land for development.

Water, sewer and other utilities are already available to multiple areas on the site. Onsite are located both a fabrication shop and storage building. Deed restrictions require that the Property be used for industrial or commercial uses, protecting future development.

Opportunity to obtain lease with the Illinois Department of Natural Resources (IDNR), for access to the I&M Canal and the 90-foot corridors on either side, which can support development (e.g. the west side of the I&M Canal corridor is ideally suited for establishment of a road for development of Business Park 3) thereby further preserving primary land for development (Seller has a similar lease, but IDNR leases are not assignable).

The Property was previously a petroleum refinery, but soils have been remediated, including removal of soil from ground surface to bedrock, with No Further Action (NFA) letters for soil issued by IEPA. Groundwater monitoring wells are in place and Seller will retain certain limited access for ongoing monitoring and limited work in order to obtain groundwater NFA letters from IEPA.

Fabrication Shop
- 50'w x 200'l outside dimensions;
- 17'10” inside working height to rafters;
- 3 mechanical bay doors: two doors are 16'w x 14't. one door is 14'w x 12't;
- 3 phase 480v 400 amp and single phase 220v/110v power available;

Storage Building
- Main Metal Building: 60' x 48' metal;
- Drywall and insulation with wooden trusses making 12' ceilings with an 8/12 pitch roof;
- 200 amp electrical service, sewer to city system never in use (one floor drain in middle of building, no stains around);
- One 8' overhead door

Questions?

This individual seller chose to auction their property for a time-definite sale. If you have a property to sell, please contact Customer Service at 800.801.8003


Terms of Sale:

Thank you for participating in this Williams & Williams Auction. It is important that you familiarize yourself with the terms and conditions as all sales are final and irrevocable. The terms of sale are non-negotiable. Good luck and good bidding!

Registration at the auction (online and/or in person) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. The High Bidder will be required to pay a Williams & Williams Technology Fee of $199 at closing. By bidding you are representing to Williams & Williams ("Broker" and/or "Auctioneer") and the seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein. DO NOT BID unless you have registered, received a Bidder's Card and Auction 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 Auction Day Notes to determine the existence of any disclosures, exclusions, representations and disclaimers. Do not bid if you have not inspected the property(s). By bidding you agree to all disclosures.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.

A Buyer's Premium of 5% (no minimum) will be added to the high bid and included in the total purchase price.

Each high bidder must make a 10% non-refundable deposit per property ($5,000 MINIMUM - whichever is greater) immediately following auction. Cash, cashier's checks, personal checks and business 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, all closing costs, and the Technology Fee are due at closing. Closing costs generally range from $750-$3000 and include title exam, title policy, closing fee, filing costs and any other fees noted unless otherwise noted in the Contract.

The Parties acknowledge Buyer will tender the Down Payment in the form of a certified check, cashier’s check, money order, or personal/business check, and said instrument will be made payable to the Escrow Agent, or a wire shall be sent directly to the Escrow Agent, if permitted by the Contract. In those instances where the Down Payment instrument was transmitted to the Auctioneer, Auctioneer shall transmit the Down Payment instrument to the Escrow Agent upon Seller’s acceptance of Buyer’s offer. The Down Payment shall be held by Escrow Agent and disbursed to the Closer identified in the Contract for Sale prior to the Closing Date and following clearance of funds by the issuing financial institution.  Interest, if any, earned on the Down Payment shall be deemed part of the Down Payment and shall be applied together with the principal portion of the Down Payment to the Purchase Price.  The Parties agree that upon a fully executed Contract, the Down Payment is non-refundable, and, at Seller’s request, shall immediately be released to Seller in accordance with the Contract for Sale.

If Seller accepts Buyer’s high bid, then the Contract for Sale shall continue in full force and effect and the Closing Date shall occur no later than thirty (30) days following the date of Seller’s acceptance, except as otherwise may be allowed in accordance with the terms of the Contract for Sale. Buyer(s) and Seller agree that Seller may terminate the Contract for Sale, in Seller’s sole and absolute discretion, in the event the Seller does not accept the Buyer’s high bid.   BUYER UNDERSTANDS AND AGREES IF SELLER HAS PERFORMED SELLER'S OBLIGATIONS UNDER THE CONTRACT FOR SALE, AND IF AT CLOSING THE BUYER FAILS TO PAY THE BALANCE OF THE PURCHASE PRICE OR TO PERFORM ANY OTHER OBLIGATIONS UNDER THE CONTRACT FOR SALE, THE DOWN PAYMENT WILL BE DISBURSED PURSUANT TO OF THE CONTRACT FOR SALE.  BUYER HEREBY DIRECTS ESCROW AGENT AND CLOSER TO DISBURSE THE DOWN PAYMENT FUNDS PURSUANT TO THE TERMS OF THE CONTRACT FOR SALE HEREIN.

Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or re-schedule an auction. 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. 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(ies) 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(ies). All persons enter the property(ies) 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 the information contained on this property was obtained from official county maps or other sources deemed reliable but is not guaranteed and may be in error. Seller DOES NOT WARRANT the accuracy thereof. Seller has made no independent investigation of any information provided and assumes no responsibility for the providing of or absence of any information, whatsoever, or for the accuracy thereof.

All auctions are subject to court or seller approval. Seller has (7) business days in which to accept or reject the high bid received at auction and Buyer’s high bid is irrevocable during this time. 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.

If more than one property is being auctioned, the Auctioneer may choose to offer a group of the properties for auction at the same time. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. Anyone may bid at any time, including prior High Bidders.

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 Auction 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: https://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, Auction 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 Auction Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, AUCTION 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, Auction 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, AUCTION DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.

Disclosures:
• All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale.

• Escrow. Buyer acknowledges receipt of Joint Escrow Instructions (Addendum A) that amends escrow procedures for Buyer's down payment funds.

· Deed Restriction Disclosure. Buyer understands that Seller will convey a warranty deed to the Property that includes use restrictions. Buyer acknowledges receipt of deed restriction document titled 'Declaration of Restrictions' and agrees to accept the conveyance document that includes the terms, conditions and restrictions set forth therein.

· Transfer Compliance Disclosure. Property may be subject to undisclosed city/county requirements for transfer/transfer tax, and Buyer is responsible for all costs of compliance, which may include escrow of repair funds, remediation ,and/or conducting inspections.

· SANCTIONED PARTIES DISCLOSURE: The United States and other countries in which Seller operates have imposed sanctions against persons and entities who have been determined by those governments to be terrorists, narcotics traffickers, engaged in weapons of mass destruction, or members of foreign terrorist organizations. These sanctions prohibit any business transactions or dealings with any identified sanctioned party. Among the U.S. lists that are included are the Department of Treasury's list of Specially Designated Nationals, Narcotic Traffickers, Terrorist Organizations and Individuals; the Department of State's listing of Debarred Parties, Terrorist Organizations, and Terrorist Exclusion List; and the Department of Commerce's list of Denied Persons, Denied Entities, and Unverified End Users. In the auction bid, Buyer shall provide the full legal name and address of each person(s) and/or legal entity(ies) to accept title to the real property at Closing. Buyer acknowledges there will be up to a three (3) business days time period following the auction during which the Seller will conduct a required screening of the Buyer name(s). Contract Execution by Seller is contingent upon Seller confirming that the Buyer name(s) are not on any list of sanctioned persons and entities. The Seller uses a sanctioned party screening tool to determine whether the names of potential customers, suppliers, service providers, new personnel (direct hires or contractors), interns or other third parties with whom Seller may have business dealings appear on any of the watch lists. The screening results will show exact and close matches to the information entered and will identify the specific sanctioned party list on which the entity appears. In the event that the Buyer's exact name appears on a sanctioned party list, Seller will be informed that they have been deemed ineligible for this transaction.

· Seller may request financial documents of the entity acquiring the Seller's property. This may including income statements, balance sheet statements, and cash flow statements.

· ASSIGNABILITY DISCLOSURE: This Contract shall be personal to Purchaser, and Purchaser shall not assign, agree to assign, offer to assign or solicit offers to purchase Purchaser's interest in or rights to purchase the Property. Any assignment, agreement, offer or solicitation by Purchaser to any other Person or entity shall constitute a default under this contract and, at the option of Seller, shall terminate and void this Contract and any escrow pursuant hereto. Seller may assign or otherwise transfer all or a part of this Contract or Seller's rights and obligations under this Contract at any time to any Person without prior consent of Purchaser.

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Fontana Fitzwilson
Fontana Fitzwilson
Executive Vice President, Sales
PHONE
Selling your property? Find out if auction works for you.
Call 800.801.8003.
Selling your property? Find out if auction works for you.
Call 800.801.8003.