Name 202 Foot Frontage North 2nd Street, Machesney Park IL
Auctioneer United Country Northern Illinois
Date(s) 11/10/2016 - 12/4/2016
Online Bidding Starts November 10, 2016 8pm CST Bidding ends November 30, 2016 8pm CST
Preview Date/Time Land is vacant and walkable. Contact Scott Feirn for detailed questions at 815-963-9198.
Checkout Date/Time Closing must be on or before December 29, 2016 4pm CST.
Location 7628 N. 2nd Street
Machesney Park, IL 61115
Buyer Premium High bid + $1,500.00 = Contract Price
Located on Hwy 251, this corner location offers 202 feet of frontage (.82 acre) on Hwy 251. Currently zoned multi-family residential but general commercial rezoning is favored by the local village planning department . Water, sewer and other utilities at the property.
Auction Terms & Conditions EARNEST MONEY REQUIRED TO BID All bidders registering online and at the auction will be required to show proof of cash or a cashier's check payable to United Country Northern Illinois Realty & Auction-Escrow Agent in the amount of $500.00 for Earnest Money. Such cash or cashier's check shall be presented, though not tendered, at auction registration. Only the bidder who submitted the highest bid price for the property will be required to tender their Earnest Money at the conclusion of the auction. Such bidder will be the buyer of the property. BUYER'S PREMIUM A Buyer's premium in the amount of $1,500.00 will be charged to the high bidder and added to the high bid amount resulting in the final sale price of the property. AGENCY DISCLOSURE United Country Northern Illinois Realty & Auction (Auctioneer), and all other licensees employed by or associated with the Broker, represent the Seller in the sale. All bidders will have a Non-Agency relationship with United Country Northern Illinois and have a "Customer" status relationship. AUCTION FORMAT All bidding is open, online and public. Bidders must be registered to bid in the auction to participate. Qualified bidders must bid online through the Broker's online bid portal. The Auctioneer has the right, in his absolute discretion, to determine the conduct of the sale, including, without limitation, to advance the bidding, to reject any bid offered, to withdraw any lot, to reoffer and resell any lot, and to resolve any dispute in connection with the sale. In any such case, the judgment of the auctioneer is final, and shall be binding upon all participants in the sale. ATTORNEY REVIEW RECOMMENDED Information contained in this brochure and all other auction-related material, such as the Bidder's Information Package, should be carefully reviewed by an attorney prior to the auction and is subject to and may be superseded by (a) the approved Purchase Agreement, as well as by (b) announcements made from the podium prior to the commencement of bidding. REQUIREMENTS OF THE SUCCESSFUL BIDDER The successful high bidder on the property will be required to sign the bidder's card upon the conclusion of bidding, confirming and acknowledging the obligation to purchase the property and to tender the required Earnest Money to the Auctioneer. The check(s) shall be made payable to United Country Northern Illinois Realty & Auction as Escrow Agent. The high bidder shall then immediately sign the Purchase Agreement, which is included in the Bidder's Information Package. The Purchase Agreement shall supersede all other materials, including the Terms of Sale relating to the sale of Property. In the event of buyer's default or failure to close the purchase of the property, the earnest money will be retained to compensate for damage suffered as a result of the default. No third party checks will be accepted. The balance shall be paid consistent with the terms of the Purchase Agreement. There will be No Financing contingency for this purchase and is considered to be an all cash transaction. The successful high bidder also will be required to sign a statement that the bidder has inspected the property, obtained the Bidder's Information Package and other pertinent documents. If the successful high bidder will be a corporation, partnership or trust, please contact the Auction Project Manager for other bidding requirements. RESERVE AUCTION The Property is being offered as a Reserve auction. The Auctioneer reserves the right to ask for an opening Bid. CLOSING DATE The winning bidder will be required to close the sale on or before December 29, 2016 at 5:00pm. TITLE INSURANCE/CLOSING COSTS The purchaser shall receive title free from all encumbrances, except property taxes and permitted exceptions specified in the preliminary title commitment. Seller will be responsible to pay for any title insurance, deed preparation fee and transfer taxes incurred to facilitate the closing. Any other costs to facilitate sale will be at Buyer's expense. INSPECTION OF THE PROPERTY These property is being sold on an "AS-IS, WHERE-IS" basis. Complete inspection of the property prior to the auction is encouraged. Those inspecting the property assume all risks associated with any inspection. Discussion with local county building department is encouraged. CONDUCT OF THE AUCTION Neither Seller, Seller's agents or Auctioneer is permitted to bid at the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction premises for interference with auction activities, nuisance, canvassing, soliciting, or other reasons deemed necessary by the Auctioneer. In the event of a dispute between bidders, the Auctioneer shall make the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the property from the auction. If any disputes should arise following the auction, the Auctioneer's records shall be conclusive in all respects. Because of the pace of the Auction bidding, Auctioneer is not able and therefore is not obligated to recognize nor record each of the bidders at any bid level during open outcry except the high bidder. Auctioneer will use its reasonable efforts to register persons bidding at the Auction, but cannot represent or warrant that all Auction bidders have been properly registered. AUCTION LOCATION - ONLINE ONLY The auction will be conducted online via the Broker/Auctioneer's internet based bid portal. BROKER PARTICIPATION INVITED A referral fee in the amount of $ 500.00 will be paid by Seller's Broker to the real estate agent or broker acting as a "buyer broker", whose Client bids, pays for and closes on a property. To qualify for the referral fee, the real estate agent or broker must: (a) be a licensed real estate agent or broker in the state in which the property is located who will abide by the National Association of Realtors® Code of Ethics; (b) register the Client by certified mail return receipt requested, on their company stationery, which must be signed by both broker and Client and confirm the "buyer-broker" arrangement ("Registration"), with United Country Northern Illinois Realty & Auction, 115 N. First Street, DeKalb, IL. 60115 prior to November 26, 2016 by 5:00pm; (c) insure that the Registration is received before any inspection of the property by the Client; (d) sign in and attend the auction registration with the Client, (e) attend the auction with the Client and bid with or for the Client; and (f) insure that the Purchase Agreement signed by the Client. All Registrations accepted will be acknowledged by the Auctioneer. Each participating agent or broker must bring this acknowledged Registration to the auction for registration verification purposes. A complete file of Registrations on all Clients will be maintained. No Broker registration will be recognized on a Client who has previously contracted or been contacted by the Sellers, their representatives or Auctioneer. Referral fees will be paid upon closing by Seller's Broker and receipt of all commissions by Auctioneer. Referral fees are based on the high bid amount. No referral fees will be paid by the seller, if the broker, the broker's agents or a member of the broker's immediate family is participating in the purchase of the property. An affidavit will be required certifying that the broker is not acting or participating in any way as a principal. No sub-agency shall be offered to any broker by Auctioneer. There can be NO EXCEPTIONS to this procedure and no oral Registrations will be accepted. If a referring broker has not met all of these requirements, no referral fee will be paid to the referring broker, even if the referring broker's Client purchases a property. DISCLAIMER The information contained in this brochure is subject to inspection and verification by all parties relying on it. Sellers, their agents and United Country Northern Illinois Realty & Auction assume no liability for its inaccuracy, errors or omissions. All SQUARE FOOTAGE, DIMENSIONS AND TAXES ARE APPROXIMATE. This offering may be withdrawn, modified or cancelled without notice at any time and is subject to prior sale. This is not a solicitation to residents of any state where this offering is prohibited by law. Governing law These Terms and Conditions of Sale shall be governed by and interpreted in accordance with the law of the State of Illinois and, by registering for and bidding in the auction (whether personally, online, by telephone or by agent), the buyer agrees to submit to the exclusive jurisdiction of the state courts located in DeKalb County, Illinois in connection with any matter regarding this auction. --------------------------------------------------------------------------------------- Sebae Data Solutions, Inc. SERVICE TERMS AND CONDITIONS ACCEPTANCE OF TERMS Sebae Data Solutions, (the makers of Auction Flex & HiBid (formerly Bidopia) hereafter referred to as "Sebae"), provides its service to you, subject to the following Terms & Conditions ("TAC"), which we may update from time to time without notice to you. The most current version of the TAC can be found found at any time by visiting the link: USE AND REGISTRATION Our services are available only to, and may only be used by individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to children (persons under the age of 18) or to temporarily or indefinitely suspended members. If you are under the age of 18, you can use this service only in conjunction with, and under the supervision of your parents or guardians. If you do not qualify, please do not use our service. If you are registering as a business entity, you represent that you have the authority to bind the entity to the TAC. 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HIBID INTERNET AUCTION PLATFORM & WEB SERVICE DESCRIPTION Sebae provides the HiBid (formerly Bidopia) Internet Auction Platform & Web Service ("HWS") under the HiBid trademark as a software solution for auctioneers wishing to extend the audience of their live auctions to the internet. The HWS provides various features including internet absentee bidding, internet-only auctions, and webcast auctions.  The HWS is able to changes its appearance to coincide with the website that it is powering. Accordingly, the HWS powers the website as well as numerous Auction Flex customer websites. This ability to change appearance is a feature of the HWS. Much like internet merchant account providers can host a secure web page for a vendor to easily process payments, the HWS hosts certain portions of the auctioneer's website to easily enable advanced features such as internet bidding.  INTERNET ABSENTEE BIDDING Internet absentee bidding allows you to place a bid for an item in advance of an auction. This allows you to place bids on lots without actually attending the auction. INTERNET-ONLY AUCTIONS Internet only bidding allows you to place a bid for an item prior to the auction lot closing online. In an internet-only auction there is no live auction. WEBCAST AUCTIONS Webcast auctions allow you to bid in real-time against other bidders or place pre-bids prior to a lot going "live". Lots are sold in accordance with the Auctioneer's terms and conditions which are accessible from each lot's page. It is your responsibility to read and accept the Auctioneer's terms and conditions prior to placing your bid. When you place a bid you are agreeing to be bound by the Auctioneer's & Sebae's terms and conditions. By placing a bid you are entering into a legally binding and enforceable contract. Please keep in mind that you are bidding against other internet bidders as well as floor bidders, phone bidders, and regular absentee bidders (this list does not constitute a complete list of bidder types but does highlight the common bidder channels). The auctioneer, at their discretion, can approve or deny bidders. The auctioneer reserves the right to accept or deny bidders for any reason. Prior to approval the auctioneer may contact you to determine your credit worthiness. If the auctioneer approves your bid, the auctioneer will then process your bid in accordance with their terms and conditions. Should your bid for a lot prove successful, the auctioneer may contact you to arrange for payment & shipping (if applicable). If the auctioneer required registration via a credit card, the auctioneer reserves the right to process your winning bids to the credit card provided during registration. Sebae, through the Auction Flex & HiBid products & services, facilitates the internet bidding process between the Auctioneer & the bidder. Sebae is in no way a party to the transaction. Because Sebae is not a party to the transaction, you accept that you will have no claim or cause of action against Sebae in respect of the sale (or non-sale) of any Lot. If you have a dispute with an Auctioneer or another user of the Service with regard to the sale (or non-sale) of any Lot you agree that Sebae, its officers, agents, employees will not be liable for losses (including, but not limited to, loss of profits, special loss, indirect loss and consequential los), costs, damages, liabilities, claims, demands and expenses of any kind arising out of or connected with such dispute. You also accept that none of the aforementioned are under any obligation to take any action to resolve any dispute between you and an Auctioneer Sebae is not responsible for any typographical, pictorial or technical errors in information about Lots on the Site as provided by Auctioneers. Sebae does not evaluate Lots and does not act as a specialist or expert on any related subject matter. Sebae makes no warranties or representation of any kind or nature with respect to Lots (including but not limited to representations or warranties as to the accuracy of description, genuineness, quality, authorship, attribution, provenance, period, culture, source, origin or safety). If you have any questions, e-mail the Auctioneer directly. In particular, make sure that you understand the Auctioneer's payment terms and shipping terms. BIDDING The Service requires you to login with your username and password prior to placing a bid on a Lot. Making bids with false information or with stolen credit card information is prohibited and illegal. Your user name and password are required in order to place internet bids. Making bids in a false name or with an invalid or stolen credit card is prohibited. Each bid carries the computer coding of the Internet provider which allows the individual user to be traced and Sebae may at its discretion release this information to enable legal action to be taken. Sebae may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. By placing a bid, you are making a binding and irrevocable offer to purchase the Item at any price up to the maximum bid amount you submit. If you win, you must complete the transaction, subject to any contractual right or other right at law to rescind the contract in certain circumstances. 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THE WINNING BID The winning bid in an auction will be the highest bid that exceeds any reserve (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed then the auctioneer shall have the right to accept the next highest bid. NOTICE OF END OF SALE, PAYMENT & SHIPPING After the sale has ended, the auctioneer will notify the winning bidder via phone, fax or mail that they have won. If you do not receive notice that you have made the winning bid and think that you are the top bidder, you should check with the auctioneer directly. You will make all payment for Items to the auctioneer in accordance with their terms and conditions. BUYER'S PREMIUM, TAXES AND DUTIES If you are a successful bidder, you are responsible for paying any buyer's premium, taxes and duties (including any VAT, sales tax and import duties) that may be imposed on the final price paid for an Item. 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Currency USD
Buyer Premium High bid + $1,500.00 = Contract Price
Payment Terms
Earnest Money due upon Auction closing in the form of a casheirs check in the amount of $5,000.00.