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Barrington Hills, IL - Residential Development Opportunity
Why Buy This Property
This offering is a rare opportunity to buy up to three already divided tracts with three ponds along the west side of County Line Road in Barrington Hills, IL. The opportunity exists for the astute developer to gain develop up to three homes on this property. This property has endless possibilities and is truly an overlooked gem.
GRANDFATHERED HOMESITE: This property is unique in that it features three tax parcels. One of the parcels is one acre but with a pre-existing home. This fact allows for this property to be rebuilt as an only one-acre single-family homesite in Barrington Hills. In addition, to the west of this single acre are two five-acre parcels. A minimum 5-acre zoning restriction on new construction has been in effect since 1963, but the existence of equestrian farms antedates the village by decades.
LOCATION: Barrington Hills is one of the most coveted communities in the northwest suburbs of Chicago. Barrington Hills is a village located about 40 miles northwest of Chicago and straddles approximately 29 square miles over four counties, Cook, Lake, Cane, and McHenry. The population was 4,209 at the 2010 census.
SPRING CREEK FOREST PRESERVE: The 4,000 acre Spring Creek Forest Preserve is located across the road providing miles of walking paths and habitat for countless wildlife.
Description
- A nature lovers paradise with its hillsides of massive oak and hickory trees throughout. 401' frontage on County Line Road
- Directly across the road from the Spring Lake Nature Preserve
- Featuring three small ponds and heavily wooded rolling terrain
- Horses allowed
- Barrington Community School District 220 ranked among the top 10 Best School Districts in Illinois
- Parcel Numbers: 20-32-300-009, 20-32-300-026, 20-32-300-030
- Zoning: One home per five-acre parcel except for this property's one-acre parcel which is grandfathered
Property Location
Offering Strategy
MINIMUM BID AUCTION - These properties will be sold subject to the Minimum Bid of $625,000 for the entirety and the Terms of Sale. This is a sealed bid auction event. Bidders may bid for a single tract, any combination of tracts, or the entirety. Bidders are encouraged to ask questions in advance. The purchase of a Bidder's Information Packet and wire-transferred funds to the Title Company listed in the Purchase and Sale Contract advance of bidding. See Bidder's Information Packet for more details.
SUCHY CONSTRUCTION EQUIPMENT & ESTATE AUCTION - The construction equipment, landscaping materials including international dump truck, shakers, Caterpillar 215-B, trailers, boats, scrap metal, landscaping boulders, antique implements, and much more will be sold by National Property Solutions is an online auction. Click on the Suchy Construction Equipment & Estate Auction link for more information.
Inspection Dates
LAND:
Inspection of the land is available at any time with prior appointment. Please call (312) 278-0600 extension 101 to schedule your inspection.
HOUSE:
Inspection dates for the single-family home are on June 29, July 20, 28 by appointment only. On these dates representatives of the auction company will provide tours of the home, the property and be available to answer questions. Please call (312) 278-0600 extension 101 to schedule your inspection.
Registration and an acceptable form of government-issued photo identification is required by all persons attending any and all property viewings.
Auction Location
Sealed Bid Auction- This is a sealed bid auction event. Bidders are encouraged to ask questions in advance. The purchase of a Bidder's Information Packet is required to bid. Bidders are required to submit a wire-transferred auction deposit to the Title Company listed in the Purchase and Sale Contract and fill in and sign the auction Purchase and Sale Agreement in order to bid. See Bidder's Information Packet for more details.
Bids are to be delivered to Fine & Company LLC via email to info@fineandcompany.comon or before 2:00 p.m. Local Time on August 31st. The bidding instructions are contained in Bidder's Information Packet. The Terms of Sale and the Purchase and Sale Contract are important for you to review and understand. Should you have any questions, please contact Fine & Company at 312.278-0600 extension 101.
Bids received after the bid deadline will not be eligible for consideration and will be returned to the sender.
Details
Certified Funds To Bid : See Offering Memorandum or Bidder's Information Packet
Buyer's Premium (Buyer's Fee) : 5% of high bid price
Contact Us
Fine & Company LLC
Michael A.Fine, CCIM, CAI, AARE
Illinois, United States
312-278-0600
michael@fineandcompany.com
Resources
We recommend our strategic partner National Property Solutions for appraisal and auction services for the monetization of business, corporate or personal assets across a broad list of asset categories in states from coast to coast.
National Property Solutionsis a national leader in the industrial, business, and inventory auction monetization industry providing full service accelerated marketing, auction and appraisal services across dozens of industries throughout North America for public and private corporations, individual owners, and financial institutions. In addition, our extensive network of operational support staff established regional offices, we are committed to working side by side with other auction firms and professionals to ensure success through our partnership services.
Other Information
Broker Participation : Buyer's Agent participation is invited!
A 2% referral fee will be paid to th REALTOR®/Broker whose registered buyer closes on this property. Please refer to the Buyer Broker registration requirements in the Terms of Sale. Seller has provided a variable commission rate.
Licensing : Fine & Company LLC, Licensed Illinois Broker
Terms Of Sale : This auction is being conducted subject to the Terms of Sale and Purchase and Sales Agreement contained in the Bidder's Information Packet.
Disclaimer : The Seller, Broker, and Auctioneer and their agents assume no liability for inaccuracies, errors, or omissions in the auction marketing materials, including the Bidder's Information Packet. All square footage, dimensions, real estate taxes, and common area fees, if any, are approximate. All materials are subject to inspection and verification by all parties relying on them. This offering is subject to prior sale and may be withdrawn, modified, or cancelled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap status, familial status or national origin or any other classes under state or local law or intention to make any such preference, limitation, or discrimination.