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REAL ESTATE AUCTION
5,600 S.F. Professional Office Building
 1120 Keokuk Street (State Highway 121)
Lincoln, Illinois
Thursday, May 29, 2008 at 4:00 p.m.
open at 2pm on auction day for previewing.
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1120 Keokuk, front view

satellite photo showing the property outlined in yellow. The average daily traffic count from IDOT records is 10,200 vehicles per day.

This office building features 5,605 square feet. There are (18) private offices and (2) conference roms... all insulated for privacy. The property was a former DCFS field office for 11 years. There are 30 paved parking spaces on site, plus a large fenced in area that could be additional parking.

 

The land covers 60,983 square feet, (1.4 acres, more or less), and is fenced on three sides.

 

Zoning is I-1 Light Industrial.

 

The entire building is networked. Interior wall construction is 5/8" sheetrock with insulation in all the interior walls. Carpeted throughout the offices. There are two 90% efficient natural gas furnaces with central air and HEPA filtration. The building has a 200amp 3-phase service.

 

Terms of Sale on Real Estate:  An earnest money deposit in the amount of 10% of the selling price will be required on day of sale, and the balance will be due in cash or guaranteed funds at closing on or before July 1, 2008.  The successful bidder will pay a 10% Buyer Fee in addition to the bid price on the real estate, and the Buyer Fee will be added to the bid price to arrive at the total selling price in the contract of sale. Title will be conveyed by warranty deed subject to all restrictions, reservations, easements of record, and zoning laws, but free of encumbrance except for taxes for 2008 and subsequent. Sellers will furnish a guaranty title policy in the amount of the purchase price. Taxes will be prorated to date of closing. Possession will be at closing. The successful bidder will enter into a contract of sale at the auction sale. The contract will not be contingent upon financing. A copy of the sales contract will be posted on the premises for review before the auction sale. The sale is subject to the confirmation of the Seller. There may be additional terms in the Contract of Sale. The property is being sold in an "as is" condition with all faults known and unknown. Any announcements made day of sale will take precedence over prior advertising and printed matter.

Auction Preview:  Thursday, May 15, from 2 to 4 pm, and Wednesday, May 21, from 2 to 4pm.

Broker Participation welcome.

If you have any questions, please call Joe Cotten at 309.686.0558 anytime.

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Fax: (309) 674-8940
email:  cottenauctions@aol.com
Cotten Commercial Auctioneers, Inc.
Registered Illinois Real Estate Broker Corp.
Illinois License #444000115
 
Cotten Real Estate
Established 1950
Cotten Commercial Auctioneers, Inc.
 Indiana License #AC30300095
Joe Cotten - Registered Illinois Auctioneer
License #441000209 and Real Estate Broker
*Peoria's only licensed Auctioneer
with a Real Estate Broker License
 		   Cotten Auctions
Established 1978		 Joe Cotten - Registered Indiana Auctioneer
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