Bidding starts closing on Monday, September 20, 2021 at 10:00 AM

Timed Online-Only Commercial Real Estate Auction Former Car Dealership Commercial Property located at 101 N Main St, Toluca, IL 61369. Bidding starts closing on Monday, September 20, 2021 at 10:00 AM. A soft close will be in effect. OPEN HOUSE DATES: Saturday, September 4 and Sunday, September 12 from 12:00 PM – 2:00 PM. Auction to be conducted as a virtual live online auction. No on-site bidding permitted. 2% Buyers Premium added to final bid. See complete terms below. If you need assistance with internet bidding, please contact our office at (815) 942-4266. Register early! Seller: William and Cindy Kelley. Property Notes: · 101 N Main St, Toluca, IL 61369, Marshall County, Bennington Township · High Traffic Location...High Visibility · Legal Description: LOTS 21 & 22 BLK 74 SANTA FE 1ST ADD. LOT SIZE: 50 X 140. · Property Type: Commercial · Gross Building Area: 5,950 SF · Land Size: 50x140 Lot-7,000 SF · PIN: 14-05-383-012 · 2020 Taxes: $1,952 · Zoned: Business Building Notes: · Former Chevy Dealer · 1-Story w/basement · Showroom Floor · Two Offices · Bathroom with glass front shower · Storage Closet · 15' Hydraulic Lift in the Floor · 200-Amp Service · Ceiling Mounted Gas Heaters - 225,000 BTU · Wood Floor throughout the building. · Cold Storage Area is the 19x51 addition on the West side of building with Cement Block Outer Wall, Floor drain and an Overhead Gas Heater. · Basement has gravel floor, brick wall to the North, 6x8 and 8x8 wood columns with concrete piers under the floor. Vehicles and Personal Property appearing in photos are NOT included. Auction Terms: Announcements: Information provided herein was obtained from sources deemed reliable, but neither Richard A. Olson & Associates, Inc nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. Any announcements made auction day by Richard A. Olson & Associates, Inc will take precedence over any previous printed materials or oral statements. Agency: Richard A. Olson & Associates, Inc and its representatives are acting as Agents of the Seller. Taxes: Real estate taxes for 2020 payable in 2021 will be paid by the Seller. The first half of 2021 taxes, due in 2022, will be paid by the Seller. The second half of 2021 taxes, due in 2022, will be prorated to the date of closing. All future taxes will be the responsibility of the Buyer(s). Auction Bidding: Bidding ends Monday, September 20, 2021 at 10:00 AM. (This will be a soft close…auction extended if a bid is placed in the last 2 minutes). Under no circumstances shall Bidder have any kind of claim against Richard A. Olson & Associates, or anyone else if the Internet service fails to work correctly before or during the auction. Buyers Premium: There will be a 2% Buyers Premium added to the final bid price to arrive at the contract sale price. Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an "AS IS-WHERE IS" basis with no warranties or guarantees, either expressed or implied, by the Seller or Richard A. Olson & Associates, Inc. This building was built before 1978 and the Buyer will be required to sign a Lead Base Paint Disclosure waiving any inspection after the bidding ends. Any and all inspections should be completed before bidding on the property, and all costs are at the Buyers/Bidders expense. Contract and Title: Immediately upon conclusion of the auction, the high bidder(s) will enter into a real estate contract and provide the required earnest payment. Upon the close of the auction the winning bidder will be forwarded via email a Contract to Purchase. A signed copy of the contract must be received Richard A. Olson & Associates on or before 12:00 NOON, Wednesday, September 22, 2021 (hand delivered, faxed or scanned and emailed). The Seller will provide an owner's policy of title insurance in the amount of the contract price. The cost of title insurance will be paid by the Seller. The cost of any escrow closing services will be paid equally by Seller and Buyer(s). Sale is NOT contingent upon Buyer(s) financing. Earnest Payment: The successful bidder(s) will be required to deposit $10,000 non-refundable earnest money to be held by Auctioneer in an escrow account and will be applied to the purchase price. Closing: The sale closing (45 days) is on or before Thursday, November 4, 2021, or such other date agreed to by the parties. The balance of the purchase price will be payable by wire transfer at the discretion of the Title Company. Possession: Possession will be granted on Thursday, November 4, 2021, or such other date agreed to by the parties. Sale Method: The real estate will be offered as a lump sum, total dollar amount. Bidding will be at $500 increments. No on-site bidding available. No absentee or telephone bids will be accepted without prior approval of Richard A. Olson & Associates, Inc and Seller. Approval of Bids: Final sale is subject to the Seller's approval or rejection. ***** CITY OF TOLUCA: New home construction is on the rise and Toluca is enjoying a period of growth and expansion. Toluca has the strength of the consolidated school district and with the proximity to Interstate 39 makes it an appealing market for future business and population growth. Toluca boasts excellent park and recreation featuring swimming pool, fishing, baseball fields, playgrounds, pavilion for gatherings, concession stands and restrooms. Friendly, small town USA at its finest. Although farming still plays an important part in the lives of many residents, the city has grown in many other areas. With the present population at approximately 1500, Toluca has four major employers - Ajinomoto North America, Inc., Helena Ag Services, Arba Care Center and Reichman Sales. Over 50 smaller small businesses serve the community. In addition, the town can still boast they have two well know Italian Restaurants - Mona's and Capponi's. People come from many miles to enjoy the food and spirits offered by these restaurants. Both have made Toluca nationally known for their quality food products. Driving Directions: From LaSalle/Peru (30 miles): Take I-39 South, Take the IL-17 exit #35 towards Lacon/Wenona, bear Right onto IL-17 West, turn Left onto IL-117, continue into Toluca. From Peoria (35 miles): Take IL-116 East towards Metamora, continue on IL-116 East thru Metamora, continue on IL-116/IL 117 through Roanoke, continue on IL-117 North, continue into Toluca. From Bloomington (40 miles): Take I-39, take the IL-17 exit #35 towards Lacon/Wenona, bear Left onto IL-17 West, turn Left onto IL-117, continue into Toluca. 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