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Des Plaines, IL - Development Opportunity
Why Buy This Property
OPPORTUNITY
The City of Des Plaines is located in the Northwest suburbs, 17 miles from downtown Chicago. Surrounded by high-growth and affluent communities, the 58,364 residents of Des Plaines are located within minutes of various forms of transportation, including Chicago’s O’Hare International Airport, Metra Commuter Rail Trains, CTA and Interstates 294, 90, and 94
The location features a population in excess of 320,000 people within a five-mile radius, with an average household income of over $89,000.
LOCATION
This location is ideally located just east of Interstate 294 and Golf Road, a full interchange. Minutes to O’Hare is just ten minutes away, and downtown Chicago is approximately a 20-mile drive. The property is astonishing. The Fisherman’s Dude Ranch operated between 1957 and 1997 on this site. The most coveted feature of the property is its 1,500 linear feet of shoreline surrounding the private lake. The property is completely wooded.
Description
- Total Area: 14.311 acres
- Spring-fed Lake Reding: 10 acres
- Net buildable area: 6.16 acres
- Previously approved for a 240-unit residential complex by the City of Des Plaines.
- Surrounded by high-growth and affluent communities with a population of over 320,000 within a five-mile radius and an average household income of over $89,000.
- Tremendous accessibility just north of O’Hare International Airport, east of I-294 & public transportation
- Near Oakton Community College, Lutheran General Hospital, Big Bend Lake, Lions Woods Park & shopping.
- Last Listed for $5.95 Million.
- Traffic Counts: 25,200 vehicles per day on Golf Road, 127,200 vehicles per day on I-294
- Zoning: R-1, R-3
- Utilities: Available at the site
Property Location
Auction / Date / Time
May 23, 2023 2:00 p.m. CDTProperty Video
Offering Strategy
SEALED BID AUCTION - This property will be sold subject to a MINIMUM BID of $1,800,000 and the Terms of Sale. This is a sealed bid auction event. 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 in advance of bidding. See Bidder's Information Packet for more details.
Inspection Dates
Inspection Dates and Time: By appointment only
Please do not enter the property without prior permission at any time.
On the inspection dates, representatives of the auction company will provide tours of the property and be available to answer questions. Please call (312) 278-0600 extension 101 to schedule your inspection.
Registration and government-issued photo identification are required by all persons attending any and all property inspections.
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.com on or before 2:00 p.m. local time on the date of the auction. The Sale Contract is 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 : $40,000
Buyer's Premium (Buyer's Fee) : 10% of the bid price
Order Bidder's Information Packet
A Bidder's Information Packet is required to bid. The packet includes auction and property information, title report, Phase I Environmental Assessment, ALTA Survey, real estate tax bills, local information, seller financing information, auction purchase and sale agreement, auction deposit agreement, and terms of sale.
Bidder's Information Packets are available in PDF format for $30.00. To order your Packet click on the link below to download the order form.
Contact Us
Fine & Company LLC
Michael A.Fine, CCIM, CAI, AARE
Illinois, United States
312-852-8523
michael@fineandcompany.com
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 and Company LLC, licensed Illinois Real Estate 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.