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HALF MILLION DOLLAR PER YEAR INCOME
Listing ID#: 248688
| Auction Location |
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Lawrenceville, IL 62439 |
| Auction Dates and Times |
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Thursday Dec 3, 2020 Completed |
| Auction Type |
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  Live Auction with Online Bidding
VIEW ONLINE CATALOG |
| Company Information |
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Parrott Marketing Group, LLC. Website: parrottauctions.com GoToAuction.com ID#: 4326 View company information and listings |
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| Listing Information |
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Parrott Auction
Thursday, December 3 rd, 2020, 10AM Central 1811 Pine Street, Lawrenceville, IL 62439
United Methodist Village Independent, Assisted & Skilled Nursing Facility will be offered for sale by the Auction method of marketing!
Excellent Investment Opportunity in Lawrenceville, IL 62439
74 Total Units Consisting of 15 Single Family Homes, 7 Apartment Complexes (3 – 5 Units Each) along with McKiou Center (32 Apartment Complex), 14 acres of land along with 250,000 Square Foot Skilled Nursing Facility!
BUY CASH FLOW
BUY PASSIVE INCOME
BUY YOU FUTURE INCOME
BUY YOUR DREAM HOME
Lot 1: Maintenance Barn Lot Size: 0.73 +/- Acres 4 East Front facing Overhead doors with automatic openers, water, heat, office/break room, restroom w/ shower, mezzanine on South end for additional storage. All brick construction.
Currently NOT FOR SALE, however, Buyer of McKiou Center will have First Right of Refusal. United Methodist Village will present the first right of refusal when this property becomes available (allow United Methodist Village North Campus to erect new maintenance building)
Applicable $18 Water Fee: Yes.
Lot 2: 1801 Pine Street Suites 1, 2, 3 3 Unit Apartment Complex w/ Parking Garage Each Unit is 2 Bedroom, 1 Bath Gross Monthly Rent: $605/Month (3x) $1,815 Gross Yearly Rent: $21,780 Lot Size: 1.35 +/- Acres
Key Notes: Slab on Grade, quality all brick construction, majority pitched roof. Each Apartment has dedicated off street, covered parking w/ small storage locker in each bay.
Applicable $18 Water Fee: Yes. 3 Units x $18 = $54.
Lot 3: 1650 – 1654 Methodist Street 3 Apartment Complexes Totaling 11 Units w/ Parking Garages 17A – 19E (11 Units) 7 - $465/Month – 1 Bedroom 4- $605/Month – 2 Bedroom
Gross Monthly Rent: $5,675 Gross Yearly Rent: $68,100
Lot Size: 1.53 +/- Acres
Key Notes: Slab on Grade, brick construction, majority pitched roof. Each Apartment has dedicated off street, covered parking w/ small storage locker in each bay. Being offered as 1 Lot as there is 1 ingress / egress point for parking.
Access: Directly to Methodist Drive (private drive owned by Lot 4). Owner will have permanent easement. Applicable $18 Water Fee: Yes. 11 Units x $18 = $198.
Lot 4: McKiou Center (32 Units) Rent: 4 - $415/Month – Efficiency Apts 12 - $545/Month – 1 Bedroom 16- $685/Month – 2 Bedroom
Quality Brick Construction w/ full basement for storage, entertaining and utilities, large ground level gathering room perfect or dining, full commercial kitchen, operating elevator, covered carport for easy access, 2 parking garages on South of property.
Year Built: 1994
Gross Monthly Rent: $19,160 Gross Yearly Rent: $229,920
Also Selling with Lot 4: 1656 Methodist Street (5 Units) Sold with Lot 4 as Parking Garage is utilized by both properties Rent: $465/Month Each
Gross Monthly Rent: $2,325 Gross Yearly Rent: $27,900
Key Notes: Slab on Grade, brick construction, majority pitched roof. Each Apartment has dedicated off street, covered parking w/ small storage locker in each bay.
Gross Monthly Rent for Entire Lot 4: $21,485
Total Lot Size: 2.37 +/- Acres
Lot 4 with also be sold with garden area (Lot 4B) for tenants to enjoy the outdoors.
Applicable $18 Water Fee: Yes. 37 Units x $18 = $666.
Lot 5: 1816 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.34 +/- Acres
Square Feet: 1,216
Year Built: 1988
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes.
Lot 6: 1814 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $715/Month Gross Yearly Rent: $8,580 Lot Size: 0.38 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 2 car attached garage. Roof and HVAC systems both replaced in last 10 years. Additional garage bay denotes $50 / month increase compared to lots 5 through 18.
Applicable $18 Water Fee: Yes.
Lot 7: 1812 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.22 +/- Acres
Square Feet: 1,216
Year Built: 1988
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes.
Lot 8: 1808 Pine Street, Brick Single Family Dwelling Rent: Utility Costs Only (Subject to change once taxes are assessed???) Lot Size: .19+/- Acres
Square Feet: 1,216
Year Built: 1989
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Please Note: current tenant has Life Estate on the property. Tenant currently covers all utilities on the property.
Applicable $18 Water Fee: Yes.
Lot 9: 1806 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.16 +/- Acres
Square Feet: 1,216
Year Built: 1978
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes.
Lot 10: 1804 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.16 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years. Applicable $18 Water Fee: Yes.
Lot 11: 1802 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.16 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes.
Lot 12: 1800 Pine Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.22 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes.
Lot 13: Pole Barn Lot Size: 0.35 +/- Acres
Year Built: 1993
Key Notes: Approximately 40' x 50' pole barn construction building featuring full concrete floors w/ center drain, full concrete approach w/ 2 extra height overhead doors and side walk in door.
Applicable $18 Water Fee: Yes. Please Note: this property currently does not have a water meter installed. If meter is installed, applicable water fee would be applied to the bill. Tap fee for city water: $350 Residential, $500 Commercial.
Lot 14: 1711 Ash Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.16 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes
Lot 15: 1709 Ash Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.15 +/- Acres
Square Feet: 1,216
Year Built: 1974
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes
Lot 16: 1707 Ash Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.14 +/- Acres
Square Feet: 1,216
Year Built: 1977
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes
Lot 17: 1705 Ash Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.14 +/- Acres
Square Feet: 1,216
Year Built: 1975
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes
Lot 18: 1703 Ash Street, Brick Single Family Dwelling Gross Monthly Rent: $665/Month Gross Yearly Rent: $7,980 Lot Size: 0.17 +/- Acres
Square Feet: 1,216
Year Built: 1975
Key Notes: Slab on Grade, all brick construction, majority pitched roof, 1 car attached garage. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: Yes
Lot 19: 1701 16th Street, Single Family Dwelling Gross Monthly Rent: $314/Month (Utilities Only) Gross Yearly Rent: $3,768
Lot Size: 50' x 125' -or- 0.14 +/- Acres
Square Feet: 1,516
Year Built: 1968
This 3 bedroom home features a multi-level floor plan, rear covered porch. Excellent Candidate for Owner Occupied Dwelling -or- High Demand Single Family Income Generating Property.
Applicable $18 Water Fee: No
Lot 20: Main Entrance located at 1616 Cedar Street Former Skilled Nursing Facility (SNF Facility)
Lot Size: 5.20 +/- Acres
Square Feet:
Year Built: Holden Center (3 Story, East facing), around 1927. North and South Wings were added in 1953. Several Additions over the years added Wesley Center (1967), Discus Center (1974), Auten Center (Memory Care unit) (1990).
Fire suppression system, Full Commercial Dining Hall, Full Commercial Kitchen Area, Physical Therapy room, several activity rooms, library, hair salon, offices, 250+ rooms, quality basement build in 1991 for additional activity & storage areas along with full commercial laundry area, also includes 3 car detached block garage.
Currently unoccupied, however, possibilities are limitless!
Possible uses include but not limited to: Transitional Home, Indoor Storage Facility / Units, Conversion to multi family dwelling, conversion to retail / commercial space. Quarter Million Plus Square Feet of Climate Controlled Storage for online fulfillment center, online drop shipping service.
Applicable $18 Water Fee: No.
Lot 21: 4, Possibly 5 Unit Apartment Complex Corner of 16th and Cedar
4 Unit Apartment Complex w/ Parking Garage Each Unit is 1 Bedroom, 1 Bath
Gross Monthly Rent: $1,860/Month Gross Yearly Rent: $22,320
Lot Size: 106.2' x 125' -or- .30 +/- Acres
Square Feet: 1,216
Year Built: 1965
Key Notes: Originally 5 Unit Complex featuring 3 - 1 bedroom units and 2 Efficiency Apartments however the 2 Efficiencies have been turned into 1 apartment. Easy Conversion back to 5 Unit Complex for increased cash flow.
Slab on Grade, all brick construction, majority pitched roof, Each Apartment has dedicated off street, covered parking w/ small storage locker in each bay. Roof and HVAC systems both replaced in last 10 years. Some damage on carport from recent high winds.
Applicable $18 Water Fee: No
Lot 22: 4 Unit Apartment Complex Corner of 17th and Cedar
4 Unit Apartment Complex w/ Parking Garage 2 - 1 Bedroom, 1 Bath - $465/Month 2 – 2 Bedroom, 1 Bath - $605/Month
Gross Monthly Rent: $2,140/Month Gross Yearly Rent: $25,680
Lot Size: 106.2' x 125' -or- .30 +/- Acres
Square Feet: 3,072
Year Built: 1968
Key Notes: Slab on Grade, all brick construction, majority pitched roof, Each Apartment has dedicated off street, covered parking w/ small storage locker in each bay. Roof and HVAC systems both replaced in last 10 years.
Applicable $18 Water Fee: No
Lot 23: 1516 17th Street 3 Bedroom, All Brick Construction Ranch style home with attached garage. Open front porch, rear alley access. Excellent Candidate for Owner Occupied Dwelling -or- High Demand Single Family Income Generating Property. Gross Yearly Rent: $9,600
Key Notes: Located in highly desirable location near Elementary, Jr. High and High School, City Park, City Pool, Baseball and Softball Diamonds, Football Field & Track.
Applicable $18 Water Fee: No
Lot 24: East Vacant Lot, Currently Hay Production
Lot Size: 5+/- Acres
Access: Frontage along Ash Street, Also access from South on Cherry Street.
Key Notes: Located in highly desirable location near Elementary, Jr. High and High School, City Park, City Pool, Baseball and Softball Diamonds, Football Field & Track. Uses include future development potential, additional yard space, additional space for private -or- commercial development for storage units / covered parking for boats, tractors, campers inside city limits!
Lot 25: West Vacant Lot, Ready for Clearing and Development -or- Nature Preserve.
Lot Size: 8.75+/- Acres
Access: Access from Cherry Street.
Applicable $18 Water Fee: No. Please Note: this property currently does not have a water meter installed. Tap fee for city water: $350 Residential, $500 Commercial.
Key Notes: Located in highly desirable location near Elementary, Jr. High and High School, City Park, City Pool, Baseball and Softball Diamonds, Football Field & Track. Uses include future development potential, additional yard space, additional space for private -or- commercial development for storage units / covered parking for boats, tractors, campers inside city limits!
Mineral Rights & Personal Property: No mineral rights or personal property to be included in the sale of real estate. Current owner has zero royalty interest.
Log onto www.parrottauctions.com for interior & exterior photos!
Basic R.E. Terms: 10% down day of sale as non refundable escrow. 6% Buyer Premium. Balance due, and possession / rights date of closing. Being sold "As is, Where is". Buyer to have all inspections completed prior to auction & have financial arrangements made prior to auction. Seller plans to sell the property to high bidder(s) on auction day, however, reasonable reserve is in place.
Earnest Money: Buyer will pay ten percent 10% of the final price upon acceptance as earnest money to be held by Parrott Real Estate & Auction Co. LLC as escrow agent hereunder for delivery to Seller at the time of closing. At this time your check will be endorsed as a non-refundable deposit on the property and will be placed in our escrow account within 24 hours of acceptance, thus meaning this deposit is NOT refundable if the buyer does not carry through with the purchase. The balance of the purchase price adjusted by prorations and credits allowed the parties by this contract, shall be paid to Seller at closing by form of payment acceptable to Seller/closing agent. Your bidding is not conditional upon financing, have financing approved if needed and are capable of paying cash at the closing.
Rent Payment / Pro-rations: All parties agree that preferably, the first day of a month would be ideal to limit the need for pro-rations on rent & other expenses that would transfer date of deed transfer.
Leases / Assignment of Leases: All current tenants are on a month-to-month lease with rent due the 1st of each month. Sample
Assignment of Security Deposit to Buyer: Buyer(s) will receive credit date of closing for any and all security deposits the current tenants have placed. This will be in the form of a credit shown closing disclosures from buyer(s) total purchase price to protect both buyer and seller.
Possession & Closing: Closing shall occur on a date mutually agreed upon by the parties, but in no event no later than thirty (30) days after Buyer has been presented with evidence of title as provided herein, preferably, the first day of a month. The parties shall be equally responsible for the closing agent fees, except that Buyer shall be solely responsible for any closing agent fees incidental to or arising from financing or the issuance of a mortgage title insurance policy. Possession date of closing.
Utilities: Seller to maintain to date of closing, buyer / tenant thereafter.
Utilities Continued: Please note: currently our seller ( United Methodist Village), pays ALL utilities on the various lots, HOWEVER, the tenants reimburse the seller for their unit or a flat charge.
Evidence of Title Insurance: Seller shall provide the Buyer at closing a surface title insurance policy in the amount of the purchase price at the Seller’s expense, except Buyer shall pay customary Buyer’s search charges, any Lender’s policy and any other cost associated with buyer. The title insurance policy shall show the buyer as owner of record of the subject real estate only to easements, covenants and restrictions apparent or of record, applicable zoning and building restrictions. Condition of Premises: Buyer acknowledges that Buyer has inspected the real estate and any improvements thereon, and that Buyer is acquainted with the condition thereof and accepts the same as of the time the Buyer executed this contract with all faults and without any warranty from Seller. All properties sell “AS IS WHERE IS” with no warranties of any type expressed or implied as to the merchant-ability, usability, fitness for a particular purpose, or any matter of whatsoever type or nature. Personal Property: Each unit will be sold with the appliances currently in each unit. Some units have washer, dryer, range and refrigerator. Some have a combination of those appliances. Each purchase agreement will list the specific appliances included in the sale of the real estate to protect both buyer and seller, otherwise, No items of personal property are included in the sale of the real estate. Seller or agent for seller does not guarantee any or all of the lots will be free and clear of debris. Please Note: many of the kitchen items in Lot 20 will NOT be included in the sale of the real estate.
Warranties: The Seller expressly warrants that Seller has received no notice from any city, village, or other governmental authority of a current dwelling code or other ordinance violation or pending rezoning, reassessment, or special assessment proceeding affecting the premises. Seller warrants that no contracts for the furnishing of any labor or material to the land or the improvements thereon, and no security agreements or leases in respect to any goods or chattels that have been or are to become attached to the any improvements thereon as fixtures, will at the time of closing be outstanding and not fully performed and satisfied.
Deed of Conveyance: As soon as practicable, Seller shall execute a record-able Deed sufficient to convey the real estate to Buyer subject only to exceptions permitted herein, to be delivered to Buyer at the closing of this transaction upon Buyer’s compliance with the terms of this Contract.
In Attendance Winning Bidders Contract Signing: High Bidder will execute a purchase agreement on each individual property purchased immediately following close of auction.
Absentee Winning Bidders Contract Signing: All Wining Absentee bidders will have contracted completed by seller sent to them within 1 hour of auctions end via the popular online signature program DocUsign for them to sign and return within 1 hour. Wiring Instructions will also be sent in this email as well, also to be executed ASAP with confirmation letter emailed.
Purchase Agreement: Sample purchase agreement will be available via our website, www.parrottauctions.com at a later date. All terms and conditions set forth in the purchase agreement are non-negotiable.
Reserve: Despite all previous information (both factual and fictional), this sale is not contingent upon court approval. The United Methodist Village Board has the sole discretion if the property will sale. Please note: Seller plans to sell the property to high bidder(s) on auction day, however, reasonable reserves are in place. (We will not disclose the reserves to anyone).
Water Surcharge: To alleviate any and all future maintenance issues in regards to the water & sanitary sewer systems, we have been working diligently to come to a solution for all parties involved including the seller, tenants, future owners as well as the City of Lawrenceville. That solution is that each unit will have a surcharge of just $18 a month added to their monthly water bill to ensure trouble free, headache free maintenance of the water and sanitary sewer system within the newly created “Village Estates” subdivision. Please see each lot description to see if this water surcharge is applicable to the lot(s) of your interest. Please note: As with most municipal systems, city is responsible for the following - Water: main to meter only. Sanitary Sewer: after waste line enters sanitary sewer main.
Survey: Any and all survey cost associated with the creation of subdividing the property will be split 50/50 between seller and Buyer(s) on a per tract price.
Subdivision Covenants: No new covenants that are specific to “Village Estates” Subdivision have been created, however, If that changes, Parrott Real Estate & Auction Co., LLC will make sure they are available for pre-auction viewing at our website as well as mentioned in the sample purchase agreement, also available on our website at www.parrottauctions.com.
Age Restrictions: Please note there will be NO age restrictions placed on the property by the City of Lawrenceville. Currently, United Methodist Village has an age restriction of 55 or greater, however, after deed transfer takes place, that age restriction may be lifted by new ownership.
City Covenants & Laws: Any and all current City of Lawrenceville covenants, rules or laws will be applied to this auction and will be strictly enforced to ensure the safety of the tenants, surrounding neighbors, public city park and Unit 20 schools to provide an enjoyable and long lasting experience for everyone. No new covenants that are specific to “Village Estates” Subdivision have been created, however, If that changes, Parrott Real Estate & Auction Co., LLC will make sure they are available for pre-auction viewing at our website as well as mentioned in the purchase agreement.
Real Estate Taxes: Currently tax Exempt Status. A final calculation will not be tallied by the Lawrence County Supervisor of Assessments for each property until the real estate closing takes place. We have been and will continue to work closely with the Lawrence County Supervisor of Assessments office to narrow down the estimated taxes for each property for your knowledge and other interested parties.
For your convenience and all other interested parities, the Lawrence County Supervisor of Assessments have provided us with a very detailed spreadsheet showing the estimated taxes based upon the sale price of the each property. Please Note: This is just an ESTIMATE and exact figures could be different, however, the Supervisor of Assessment is very confident this is within a small margin of the exact figures.
WORRIED ABOUT SOCIAL DISTANCING?
Day of Sale Live Online Bidding (Pre-Registration is Strongly Encouraged) (Limited Number of Spots Available)
For More Information on any of the available bidding options, please email zparrott@parrottauctions.com or call our Lawrenceville toll free at 1-800-294-5738.
INSPECTION / PREVIEW DATES:
For a guided tour of the many of the properties, please meet Parrott Auction Representatives at Lot 4 (McKiou Apartment Complex) to begin your tour.
Wednesday, November 4th, 1-4CST
Wednesday, November 18th, 1-4CST
Wednesday, November 25th, 1-4CST
Wednesday, December 2nd, 1-4CST
Please Note: not all of the properties will be available for viewing, however, we will have access to many.
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Auction License: 441019018 |
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