Description |
REAL ESTATE AUCTION – 5 TRACTS
Private Airport Runways – Professional Building & Hangar – 16-Unit T-Hangar Building – Vacant Land – Income Producing Properties. Offered Individually or Complete.
Auction Location: Woodlake Landing Airport IS65 – “Sandwich Airport”, 1560 W Church St, Sandwich, IL 60548 at 10:00 AM.
41°38’22.51"N, 88°38’50.35"W, Elev: 677
Open House Dates:
Thursday, July 15, 2021 from 1:00-3:00 PM.
Sunday, July 18, 2021 from 1:00-3:00 PM.
Tracts will be offered individually and then as a whole. See Terms/Conditions for more information.
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Tract 1: Airport Runways with Office and Shop Building
Restricted Landing Area (RLA). 3,000 feet by 50 feet asphalt runway along with a grass runway that measures 1,750 feet x 125 feet. There are 22 acres m.o.l. of Runway property. Includes 30’ x 45’ heated concrete block building currently used for maintenance garage. Includes 20’ x 45’ Office Building with 3 rooms, overlooking the runway. Airport maintains the access roads. Private buildings around the airport have easements to use access roads. Zoned B-3 = Service, Auto, Wholesale Business District. City Water. 2020 Airport Income generated $61,000.
Tract 2: Two-Story Professional Building with Hangar/Storage
75’ x 120’ Building with 2 Bi-Fold Heated Hangars facing the South. Currently vacant. The office portion of the building is approximately 15’ x 120’ with a split in the middle. Office portion is a two-story with two bathrooms on each floor and full basement. The hangar portion of the building is approx. 60’ x 120’ with a split into 2 heated hangars on concrete with bi-fold doors opening to the runway. 29,776 sq ft lot. Zoned B-3. 2020 Professional Building Income $17,000 (vacant most of 2020).
Tract 3: T-Hangar Building – 16 Units
60’ x 430’ T-Hangar Building. Building has 20 total units (4 were previously sold), 16 remain, each with an individual Tax ID. Each unit has 10’ x 40’ door and are 1,081 sq ft. Unit 2 (NE Corner) and Unit 20 (NW Corner) are slightly bigger units. Zoned B-3 = Service, Auto, Wholesale Business District. City Water available along US-34. 2020 Hangar Building Rental Income $54,170. All current tenants on a month-to-month lease.
Tract 4: Vacant Lot – 21 Acres m.o.l.
Current use is agricultural hay ground with the lease open for 2022. Borders the Sannauk Forest Preserve . Zoned R-1 Residential but tagged as Industrial on Sandwich Future Land Use. Within City Limits. City Water available.
Tract 5: Lots 34-43 along the Grass Runway
4.21 Acres of land located between the Grass Runway and unimproved Lindbergh Dr. The lots were drawn out, but a Subdivision plat has not been completed. Opportunity for future airport expansion or additional commercial/industrial park. Zoned B-3. City Water available.
Seller: Lincoln Development Corp
Auction conducted by Richard A. Olson & Associates, Inc.
Auctioneers:
Dick Olson – IL License #440.000585
Erik Olson – IL License #441.001909
531 Bedford Rd, Morris, IL 60450
(815) 942-4266
www.richardaolson.com
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