Land Lot 4, Randall and Binnie Rd Carpentersville, Illinois, 2.24 acres

  TERMS AND CONDITIONS OF BIDDING

1
Current as of May 1, 2023
By Order of Secured Creditor
2 Lots, Randall & Binnie Road, Carpentersville, Illinois
Timed/Online
Ends: Thursday June 15, 11AM, CST
Terms of Sale
Thank you for participating in Auction Consultants Online Auctions. Familiarize yourself with the terms
and conditions as all sales are final and irrevocable. The terms of sale are non-negotiable.
Registration at the auction (online) finalizes each bidder’s agreement to the terms and conditions of sale
as stated in the Contract. Do not bid until you have read the terms and conditions. There is no fee to
register although a valid credit card will be required to verify identity. By bidding you are representing to
Auction Consultants (“Broker” and/or “Auctioneer”) and the seller that you have read and agree to be
bound by the terms and conditions for this sale as stated herein. DO NOT BID unless you have read and
agreed to be bound by the terms of sale in the Contract.
A Buyer’s Premium of 5% will be added to the high bid and included in the total purchase price.
Each high bidder must make a 10% non-refundable deposit per property at the conclusion of the
auction. Electronic wire funds and cashier’s checks are the only forms of payment accepted.
Within 24 hours immediately following the close of the auction, Auctioneer or Attorney shall contact
Buyer by electronic mail, telephone, or facsimile to provide documents for execution. Real estate
contract will be provided to the Buyer, and Buyer will be required to sign and return all purchase
documents to Auctioneer via overnight delivery or via electronic signature. Buyer shall have two (2) days
following the auction to return all completed documents.
If Buyer is a winning bidder and refuses or fails to complete the transaction for ANY reason (including,
but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete
the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as
liquidated damages to Seller.
1. TERMS: Cash at closing on or before 7/18/2023.
2. PROPERTY INFORMATION PACKETS: Property information packages are available (containing but
not limited to: a copy of the Purchase and Sale Agreements, Terms and Conditions, maps, tax
information) by contacting Auction Consultants, Inc.
3. ENVIRONMENTAL DISCLAIMER: Seller, Brokers and Auctioneer do not warrant or covenant with
Buyer with respect to the existence or nonexistence of any pollutants, contaminants, or hazardous
waste prohibited by federal, state or local law or claims based thereon arising out of the actual or
threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or
into the demised premises. Buyer is to rely upon his/her own environmental audit or examination of
the premises.2
4. CLOSING COSTS AND PRORATIONS: Seller shall pay all customary and usual closing costs paid by
Sellers of Real Estate in Kane County, IL including title insurance premiums, excise tax, one-half of
document preparation, one-half of escrow fees, and pro-ratable items. Purchaser shall pay all
customary and usual closing costs paid by buyers of real estate in Kane County, IL, including
recording fees, one-half of document preparation, one-half of escrow fees, sales or use tax, if any,
and pro-ratable items.
5. ADDITIONAL TERMS AND CONDITIONS: All dimensions and descriptions are approximations only
based on the best information available and are subject to possible variation. Bidders should inspect
the property and also review all of the pertinent documents and information available at ACI as each
bidder is responsible for evaluating the property and shall not rely upon the Seller, Broker, or
Auctioneer. The Seller, Broker, Auctioneer, or their agents assume no liability for errors or
omissions. The properties herein are being sold subject to federal, state and county laws, ordinances
and regulations which may affect the property and its use, including all conditions, restrictions and
limitations and other matters of record. “The property is being sold as-is and without any warranties
or representations, expressed or implied.” No claim will be considered for allowance, adjustment or
rescission based upon failure of the property to correspond to any particular standard or exception.
The Auctioneer, at his sole discretion, reserves the right to accept a personal check from a pre-
qualified bidder in lieu of a cashier’s check. Seller and Auctioneer have the right to postpone or
cancel the auction, in whole or in part, to add or delete properties, at their sole discretion, and to
modify or add any terms and conditions of sale and to announce such modifications or additional
terms and conditions either prior to or at the auction. Announcements made at the auction will take
precedence over printed matter. No phone, fax or emailed bids will be acknowledged on sale day
unless prior arrangements have been made with ACI.
6. AGENCY DISCLOSURE: ACI is representing the Seller and will be paid by the Seller. Purchaser will be
required to acknowledge such agency.
7. BROKER PARTICIPATION: A cooperating broker referral fee of 3% will be paid to the appropriately
licensed real estate broker whose pre-registered prospect pays and successfully closes on subject
property. Participating brokers must follow all guidelines set by the Listing Broker and must
complete and submit to the Listing Broker a Cooperation Agreement Between Brokers no later than
11AM, 6/14/2023
Agreements may be obtained from the Listing Broker. No agent will be recognized on a prospect
who has previously contacted or been contacted by the Seller or its representatives. Registered
broker(s) must have shown their client(s) the property. Registered broker(s) and their client(s)
must attend the auction.3
TIMED ONLINE AUCTION BY ORDER OF SECURED CREDITOR
Randall Commons Lots 4 & 5 Randall & Binnie Road, Carpentersville, IL 60110
ENDS:
Thursday June 15, 11AM, CST
LAND AUCTION
OFFERING SUMMARY PROPERTY OVERVIEW – Minimum Bid $50,000
Sale Price: $50,000 Minimum Bid (Lot 4) Lots 4 & 5. Two fully improved commercial lots zoned C-2-A Randall Road Commercial.
$50,000 Minimum Bid (Lot 5)
LOCATION OVERVIEW
Lot Size: 2.24 AC
1.85 AC
Prime opportunity in a great location. Located just East of the NEC
Randall Road and Binnie Road in the heart of Carpentersville retail corridor.
PROPERTY HIGHLIGHTS
APN:
Zoning:
03-17-153-010
03-17-153-011
C – 2 – A
• Prime Opportunity in a great location
• Fully Improved Net Buildable Lots
• Behind Walgreens4
Traffic Count: 43,272 VP