WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
NOW SELLING ABSOLUTE!
602 E Blackhawk Dr, Byron IL 61010 (Ogle County)
176,200±SF Industrial/ Manufacturing Bldg. on 32± Acres
Selling Online Only
Wednesday, August 23 at 10:00 AM CT
Closing Deadline: September 25, 2017
Inspection: Monday, August 21 - By Appointment Only
Sale Manager: Michael Fine, (312) 278-0600, michael@fineandcompany.com
Property Description: Former manufacturing facility with 18 to 20.5 foot clear height, with 80,000±SF of warehouse space, 82,600±SF of manufacturing space, and 13,600±SF of office space with partial mezzanine. 7 docks, plus one drive-in door opening to 200’ long, 38’ wide crane rail equipped with a 5-ton crane, with 13’ clear under hook. Built ca 1965 and renovated in 1985.
Additional utility crane rail equipped with a 3-ton crane. 8’8” clear under hook
4,000 amp power/bus duct
Wet fire suppressions system throughout
Heat - Modine type units
Approx. 220 parking spaces
Byron is a modern, rural community also known as “Gateway to the Rock River Valley”. Lying approximately 88 miles west of Chicago and 12 miles south of Rockford, the community is considered a “far west” suburb. The Iowa, Chicago and Eastern Railroad connect through Byron. Rail runs along the northern property line. Electrical, natural gas, water, sanitary and storm sewer are all available to the site.
According to a December 26, 2006 Phase 1 Environmental Site Assessment, no evidence or indication of Recognized Environmental Conditions was revealed.
This auction features a bid extension - please see details in terms below.
Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, close by September 12, 2017. Auctioneer is not responsible for bidding errors caused by internet outages, bid platform failures, or power failures.
This auction features a bid extension. This means that a bid placed on the asset extends the bidding for 5 minutes. When 5 minutes passes with no bidding, the auction closes. Bid increments and bidding methodology are subject to change at the sole discretion of auctioneer.
This feature is in place partially to prevent "sniping" which can occur on online auctions with a hard deadline. It recreates the action of a "Live Auction". If your opponent bids in the waning seconds of the auction, you still get another chance to bid.
With that in mind, don't wait out the bid until the last second, as it can put you at risk for not getting your bid in before the 5-minute clock runs out.
Auction Conducted in Conjunction & Cooperation with: Fine & Company LLC, licensed IL broker #481011386
