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Skokie, IL - Orchard Plaza Shopping Center - Iconic Location
Why Buy This Property
NO RESERVE AUCTION! – To Be Sold Regardless of Price! Court Ordered Sale
15 miles northwest of Downtown Chicago
IRREPLACEABLE LOCATION: Strategically positioned at the signalized intersection of Skokie Boulevard and Gross Point Road which serve as two major arteries for Skokie and the surrounding northern suburbs.
REGIONAL DRAW: The Westfield Old Orchard regional shopping center (1.8M SF of Retail, 117 Stores) is only 0.4 miles away! Interstate 94 connecting Chicago with the northern suburbs, Wisconsin, and beyond is easily accessible either north or south of the property.
NATIONAL TENANTS: Multiple national tenants including Bonefish Grill, Advance Auto Parts, United States Post Office, Hallmark, Men's Warehouse, DentalWorks. Local tenants: Emma's Bagle Cafe
HUGE TRAFFIC COUNTS: 22,100 VPD Skokie Blvd., 13,100 VPD Gross Point Rd.
HIGH VISIBILITY: Clean lines of visibility with ample parking
FREE-STANDING BUILDING: A prominent free-standing building totaling 46,652 square feet
STABILIZED ASSET: All tenants operating under Net Leases
STRONG INVESTMENT OPPORTUNITY
Don't miss this opportunity to name your price and own this property!
Description
Year Built: 1964, renovated in 1995
Building Size: 42,196 SF GLA
Building Description: A one and part two-story retail center. fully sprinklered, masonry construction, nine-unit commercial building
Land Size: 3.15 Acres
Surface Parking: 186 cars
National Tenants: Five national tenants - Bonefish Grill, Advance Auto Parts, United States Post Office, Hallmark, Men's Warehouse, DentalWorks. Local tenants: Emma's Bagle Cafe
Avg. HH Income: $136,000 (3-mile)
Heavily Populated Area: 144,000 people live within 3 miles
Zoned: BI Service Commercial District, Skokie, Illinois
Property Location
Auction / Date / Time
October 28, 2021 2:00 P.M. CDTProperty Video
Offering Strategy
NO MINIMUM BID / NO RESERVE AUCTION - This property will be regardless of price and only subject to confirmation by the Circuit Court of Cook County, 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 advance of bidding is required. See Bidder's Information Packet for more details.
Inspection Dates
Inspection Dates and Time: By appointment only – September 14, 30 October 7, 14
Most spaces are tenant-occupied. Please do not disturb the tenants or ask questions of their personnel.
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 : $80,000
Buyer's Premium (Buyer's Fee) : 6% 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, leases, rent roll, revenue and expense reports, estoppel letters, ALTA Survey, real estate tax bill, local information, auction purchase, and sale agreement, auction deposit agreement, and terms of sale.
Bidder's Information Packets are available in PDF format for $40.00. 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
Additional Information
Other Information
Broker Participation : Buyer's Agent participation is invited!
A 1.5% referral fee will be paid to the 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.