Public Auction of 1301 East Washington Street
Notice of Public Sale of Real Property
Notice is hereby given that on November 1st, 2018 the City of Urbana, of Champaign County, Illinois (hereinafter “City”) shall sell at public sale by auction, which auction shall be conducted in accordance with the procedures described herein, at 11:00 a.m. o’clock in the City Council Chambers of the Urbana City Building, 400 South Vine Street, Urbana Illinois, the following described property (“Property”):
Property Address: 1301 East Washington Street, Urbana, Illinois
Property Identification No: 92-21-16-327-011
Information relating to the Property and the auction procedures may be obtained at City of Urbana Community Development Office at 400 South Vine Street, Urbana, Illinois, between the hours of 8:00 a.m. and 5:00 p.m., Monday through Friday, or download the file: 1301 East Washington Street – Public Auction Packet
Said sale by auction will be made on the following terms:
- The Property is to be offered for sale at a public sale by auction to the highest responsible and qualified bidder.
- The Property shall be sold “as is” by Warranty Deed, legal description on the City’s title to govern. The City makes no representations or warranties with respect to the condition or use of said Property, or compliance with environmental laws and regulations. The purchaser shall be solely responsible for determining the applicability of any laws, local ordinance, or other regulations which may impact the Property and/or the purchaser’s contemplated use thereof. The Property is being sold subject to any and all rights of the public and any and all easements, covenants and restrictions shown or not shown by public record.
- By submitting a bid at auction, a bidder accepts the terms of the sale as contained herein and in the City of Urbana’s Ordinance No. 2018-10-067 dated October 15th, 2018, incorporated herein by this reference as if set out in full, expressly including the terms and provisions of this Notice and the Real Estate Transfer Agreement attached to said Ordinance. Copies of said Ordinance and Real Estate Transfer Agreement are available by contacting the City’s Economic Development Manager during regular business hours at the City of Urbana Community Development Office.
- Submission of a bid at auction shall serve as that bidder’s acknowledgement that: (a) it has received any and all requested or otherwise required property disclosures prior to the date of bid submission; (b) it was afforded opportunities to inspect the Property and records relating to its condition before the date of bid submission; (c) it has availed itself, to its satisfaction, of the right to inspect the Property and records relating to its condition prior to the date of bid submission; (d) it is satisfied with the Property’s condition and is taking the Property in AS-IS condition; and (e) it is prepared to accept and comply with the terms of sale as contained herein and in the aforementioned Real Estate Transfer Agreement including, but not limited to, the requirement of the successful bidder to demolish all buildings and parking lots on the Property no later than ninety (90) days after the closing.
- Records relating to the Property’s condition, including any and all environmental contaminants known and/or believed to have been located on the Property in the past or currently (if any), are available for inspection and/or copying by contacting the City’s Economic Development Manager during regular business hours at the City’s Community Development Office.
- Questions regarding the zoning for the Property should be addressed to the City’s Planning Manager during regular business hours at the City’s Community Development Office.
- The City shall not be responsible for paying the fees or commission of any bidder’s real estate broker or representative.
- The City reserves the right to reject any or all bids tendered, to waive irregularities, or to cancel or reschedule the bid submission deadline and/or auction.
- Upon presentation by the City, the highest bidder shall immediately execute the Real Estate Transfer Agreement with the City subject to the terms and conditions as set forth in the City of Urbana’s Ordinance No. 2018-10-067 dated October 15th, 2018, and this Notice of Public Sale.
- The closing date on any resulting sale shall be scheduled 30 days after the effective date of the aforementioned Real Estate Transfer Agreement. If the successful bidder fails to close or pay the balance due upon closing, the Bid Deposit paid shall be forfeited and retained by City, and the City may resell the Property. Possession shall be delivered at closing.
- As set forth in the aforementioned Real Estate Transfer Agreement, at the time of the closing transaction the successful bidder shall execute a Warranty Deed that conveys the Property back to the City. The City shall place this Warranty Deed in escrow with the City’s Community Development Services Department. The City shall deliver the Warranty Deed back to the successful bidder if it completes all demolition as required by the Real Estate Transfer Agreement, however the City may record the Warranty Deed in the Champaign County Office of the Recorder of Deeds if the successful bidder does not complete all demolition within ninety (90) days of closing.
- The City may request assurances and proof satisfactory to the City of the bidder’s ability to purchase the property. Failure of the bidder to produce same, to City’s satisfaction as measured solely by the City, shall permit the City to terminate the sale to said bidder.
- The Property shall be available for inspection, upon City’s receipt of reasonable written request, prior to the public auction.
- The City has established a minimum and reserve sales price of FIVE THOUSAND AND NO/100 DOLLARS ($5,000.00) and any auction bid at an amount lower than that minimum sales price shall be disqualified and rejected.
- Upon notification that a bidder was the high bidder at auction, that bidder shall tender to the City a “Bid Deposit” which shall be a check in the amount of Five Percent (5.0%) of said bidder’s successful bid amount. The successful bidder’s Bid Deposit shall be credited to the sale price or otherwise retained by the City as set forth in this Notice.
Urbana City Council
City of Urbana, Illinois
Ordinance No. 2018-10-067
Date: October 15, 2018
Economic Development Manager
City of Urbana, Illinois