Lowderman Auction & Real Estate - Live and Online Auctions

TERMS AND CONDITIONS "Terms and Conditions of the Auction: The high bidder will be required to sign an auction purchase agreement, and give a down payment in the amount of 10% of the final purchase price, immediately following the auction. (Business / Personal Checks or Guaranteed funds) are accepted forms for the Down Payment. If the high bidder resides outside of McDonough County Illinois, or is out of town at the time the auction closes; then the purchase agreement must be signed (in person or digitally) and a down payment given (Business / Personal Check, Guaranteed funds or by Wire Transfer) are accepted forms for the down payment, Before 12:00 Noon on Friday July 25th, 2025, the day following the auction. The balance of the purchase price shall be due within 30 days from the date of acceptance and possession will be given upon full payment. A Title Policy will be provided by the seller and the real estate taxes will be prorated to the date of closing. The Real Estate is being sold as-is where-is. All Announcments made on the day of the Auction take precedence over any prior written or oral matter. Down Payments / Earnest Deposits are non-refundable and the purchase agreement is not contingent upon financing and buyer and / or lender inspections. By bidding you are agreeing to the terms and conditions of the auction and stating that you have inspected the property or you are waiving your right to inspect. Personal Property: Personal property is not included within the sale of the real estate, and the fixtures in the Cady’s store do not sell or convey with the real estate. Security Deposits and Rents: Seller will sign and execute an assignment of all existing leases to the seller. Any rent monies collected by the seller, that represents rent income for the month in which closing is completed, will be prorated between the seller and the buyer. This Auction is being conducted subject to seller’s acceptance. Bid with confidence knowing that most high bids are accepted and the high bidder(s) are the new owner(s) of the property. Lowderman Auction & Real Estate has maintained a 98% acceptance ratio, for all Real Estate Auctions since 1963. " AATTENTION LISENCED REAL ESTATE BROKERS AND AGENTS Offering a 2% Buyer Broker Fee to any Licensed Real Estate Agent, who Registers a client with Lowderman Auction & Real Estate, 72 Hours prior to the Start of the Auction Closing, and Realtor Represents their Client during the Closing of the Auction; and such client is the high bidder and eventual buyer of the Property. Buyer Broker Fee is payable upon a successful closing by the Realtors Client. Contact our Office for Further Info. Auction Fee / Buyer's Premium This auction is being conducted subject to a 5% Auction Fee / Buyer's Premium. 5% of the high bid will be added on top of the high bid amount to determine the final purchase price. The down payment is based upon the final purchase price. Closing Time By Extended Bidding PLEASE READ CAREFULLY: Bidding will start on July 17th, 2025 at 9:00 AM and the Closing will begin on Thursday July 24, 2025 at 5:00 PM. At the Stated Closing Time, the Auction will enter into Extended Bidding. If a Bid is Placed by a Registered Bidder During this Closing Period, that bid will Extend the Auction and Bidding for everyone. For the first 30 minutes of extended bidding, the time will reset to 5 minutes each time a bid is placed. After the first 30 minutes, the extended bidding, the time will reset drop to 3 minutes. each time a bid is placed. If Necessary, after the first hour the extended bidding time will reset to 2 minutes each time a bid is placed. At any point during this process, if no bids are placed during the extended bidding time – the auction will close. Sale Day, the Seller, or Acting Auctioneer conducting this sale reserves the right to adjust the closeout time at their discretion. Tax Information, Address and General Legal "Building #1 Parcel Number: 11-100-175-00 Real Estate Taxes: $ 7,892.54 Address: 202, 204, 206, 210 N. Lafayette St., & 110 W Carroll St., Macomb, Illinois General Legal: SUBLOT 4 LOTS 11 & 12 BLK 10 OLD TOWN " "Building #2 Parcel Number: 11-100-173-00 Real Estate Taxes: $ 2,224.90 Address: 212 North Lafayette St., Macomb, Illinois General Legal: SUBLOTS 2 & 3 PT LOTS 11 & 12 BLK 10 OLD TOWN " "Parking Lot Parcel Number: 11-100-171-00 Real Estate Taxes: $ 593.44 Address: 212 North Lafayette St., Macomb, Illinois General Legal: ALL N 1/2 LOTS 9 & 10 BLK 10 OLD TOWN" Location Situated 1-block South of the Macomb Train Station and the Intersection of the 2 main arteries to the city of Macomb, highways 136 & 67; and 1 Block North of the McDonough County Courthouse & Historic Down Town Macomb, Illinois - Home of the Largest Monopoly game in the world. The Buildings are on the West side facing East of historic Chandler Park, an entire city block that is scheduled for a multi-million dollar renovation by the city of Macomb. Property Sells in its Entirety, all for 1-Tract / Parcel. Description of Real Estate "A Proven Investment and Income Producing Property * Well Maintained Property Under the Same Ownership for Over 60 Years * (2) Buildings with (12) Units + Additional Large off-street Parking Lot. * The Buildings are on the West side and facing East of historic Chandler Park, an entire city block that is scheduled for a multi-million dollar renovation by the city of Macomb. * Recent Major Improvements Include: A New Roof and a New Boiler * Most of the Current Tenants have been Renting for a Long Period of Time * Within a Block of the City of Macomb’s Historic Down Town Square * The Parking lot is Believed to be the Largest Private Parking Space near Down Town Macomb, Il Building # 1 - Know as the ""Cady"" Building: Selling a well maintained, beautiful, 2-Story building, that is a proven income producer and a property that would make a Positive Addition and Influence to most Anyone’s Real Estate Investment Portfolio. This building has been, and continues to be considered a “center piece” for businesses, and services, that have influenced and are associated with, the commerce and history of Macomb, Illinois and the surrounding communities. Main Floor (Street Level) Consists of (5) units • (4) Commercial / Retail Store fronts. • (1) large corner multiple room office, Handicap Accessible 2nd Floor Consists of (6) units • (5) Individual Apartments • (1) Large open studio Each Unit has its own individual meters for water & electric. The furnace has its own meter, and landlord currently prorates the cost to each unit based upon square feet. Recent Improvements Include: A New Roof and Boiler. Building # 2 - Former Florist: Selling a building that could serve the new owner for multiple purposes including: an office, retail and / or service business, work shop or as an income producing investment property. Single Level building that was last used for a florist. Floor plan includes: a corner office with windows, a display / retail area, a work shop area, a bathroom, and a back storage room that also accesses a walk-in cooler at the Northwest corner of the building. Parking Lot Complimenting these 2 buildings, is what is believed to be one of the largest private parking lots near down town Macomb, Il. This lot has more parking space than what is needed for the tenants. Currently a part of the lot is rented, while most of the additional parking spaces could be used by the owner, customers or even rented out as well. " Closing Representing and closing attorney is Brian Holland of Holland & Holland. 397 West Main St., Bushnell, Illinois 61422. Office number is (309) 772-3178