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Commercial
13,369 ft2
2.9 ac
Rock Island County
Listing Image
Auction Ended
  • Starting Bid: $300,000
  • 0 Bid(s)
Property Details
Living Space
13,369 sq ft
Lot Size
2.9 ac
Year Built
---
Property Type
Commercial
Sub Type
Office/Retail
Product Type
Private Sellers
Property ID
368832
Description

Sells to Highest Bidder at Auction at or Above $400,000

***Property is subject to ATM Leaseback***

13,369+/-sf former bank building built in 1990 on 2.9+/-ac. Located directly across from the South Park Mall. Highly visible location with 228+/- feet of frontage and signalized intersection. Large open green space behind building may provide opportunities for further development.

Property Disclosures

· BUYERS MUST CLOSE ON OR BEFORE 12/31/24

· Economic Sanctions Compliance (OFAC). Purchaser represents that neither Purchaser nor any of its subsidiaries or, to the knowledge of the Purchaser, any director, officer, employee, agent, affiliate or 
representative of the Purchaser is an individual or entity currently the subject of any sanctions administered or enforced by the United States Department of Treasury’s Office of Foreign Assets Control 
(“OFAC”), or other relevant sanctions authority nor is Purchaser located, organized or resident in a country or territory that is the subject of Sanctions; and Purchaser represents and covenants that it has not knowingly engaged in, is not now knowingly engaged in, and shall not engage in, any dealings or transactions with any Person, or in any country or territory, that is the subject of Sanctions.  Buyer acknowledges that Seller will run an OFAC check on both purchaser and their entity.

• Lease-back Disclosure.  Seller will lease-back the ATM building on-site.  See Exhibit E regarding the Terms and Conditions including rental rate in the “ATM Lease Agreement” as part of the Auction Real Estate Sales Contract.  Buyer acknowledges receipt of the “ATM Lease Agreement” and the Auction Real Estate Sales Contract and agrees to be bound by the terms therein. 

• DO NOT BID unless you have read the Williams & Williams Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, all available due diligence materials, and the Auction Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.

• All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale.

• Escrow. Buyer acknowledges receipt of the Joint Escrow Instructions that modifies the Contract for Sale to provide for a designated Escrow Agent to hold down payment funds. Buyer and Seller agree that the Escrow funds may be held in a trust/escrow account located outside of the state where the Property is located.

· Property Tax Disclosure Summary: Buyer Should Not Rely On The Seller’s Current Property Taxes As The Amount Of Property Taxes That The Buyer May Be Obligated To Pay In The Year Subsequent To The Purchase. A Change Of Ownership Or Property Improvements Triggers Reassessments Of The Property That Could Result In Higher Property Taxes. If You Have Any Questions Concerning Valuation, Contact Property Appraiser’s Office For Information.

· Square Footage Disclosure. The source of the square footage represented for the property is courthouse records. Buyer understands and acknowledges that square footage measurements of a dwelling can vary from a few feet to several hundred feet regardless of source (County Assessor’s records, appraisal or appraisal measurement report, etc.). Buyer shall satisfy that the size and/or square footage of the dwelling is acceptable to the Buyer.

• Personal Property Not Included.  Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.

· Zone, Code, and Use Disclosure.  Buyer acknowledges that the Property shall be purchased “AS-IS, WHEREIS, WITH ALL FAULTS.” The Property may be subject to city, village, and/or county code or zoning violations, and Buyer accepts the property subject to any such violations.  Buyer agrees to conduct an independent search of all property records in the city, county, and/or village prior to bidding and has bid accordingly.  Buyer shall be responsible for any and all required remediation of the property, if any.  Buyer shall not rely on any information provided by the Seller or Williams & Williams regarding the status of any code or zoning violations, and shall base its decisions on its independent inspection.  Buyer also acknowledges that the property may be subject to city, village, and/or county occupancy regulations and requirements which may impact the current and/or future use of the properties.  Buyer acknowledges that the seller and Williams & Williams make no warranties of any nature, express or implied, as to the permitted uses of the property, and any prohibition of buyer’s intended use of the property shall not be a grounds for terminating the contract.

• Pictures may not reflect specific parcel, entire parcel, or current conditions of any structures that are present.

· Asbestos Present on the Property.  Buyer understands and acknowledges that property herein has been identified as a site containing asbestos. Asbestos is mineral that was used in older construction materials. It has been found to be harmful if disturbed through construction, repair, maintenance, or remodeling activities. For more information about asbestos and its containment/remediation, please see the U.S. EPA website, www.epa.gov/asbestos/index.html. Buyer agrees to accept as-is, where-is and is responsible for all costs and remediation therein, and understands that Buyer must comply with all regulatory requirements regarding said remediation. Buyer understands that the condition of said property may impact the availability of financing for said property. Buyer further acknowledges and understands that neither the Seller, Williams & Williams, nor its agents make any assertions or guarantees as to the condition of said property herein. 

·  Transfer Compliance Disclosure.  Property may be subject to undisclosed city/county requirements for transfer/transfer tax, and Buyer is responsible for all costs of compliance, which may include escrow of repair funds, remediation ,and/or conducting inspections.

Legal Description

The Land referred to herein below is situated in the County of Rock Island, State of Illinois, and is described as follows: Lot 1 in that part of the City of Moline known as and called EKHCO FOURTH ADDITION to said City, according to the plat of subdivision recorded April 27, 1973 in Plat Book 43, Page 365 as Document No. 737335, in Rock Island County, Illinois.

Licensing
IL Williams & Williams Worldwide Real Estate, LLC, Lic. No. 481.011284;Jeffery L. Oberling, Lic. No. 471-017576.; Monte Lowderman Auc. Lic. 440000708
Quick Terms
  • "As-Is, Where-is", no contingencies to sale
  • 5% Buyer's Premium ($5,000 minimum)
  • 10% Down-payment ($5,000 minimum)
  • View full Terms of Sale
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