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REAL ESTATE AUCTION
6 Bedroom Victorian Home

612 E. Peru St., Princeton, Illinois
Wednesday, August 16, 2006

at 6:00 p.m. at the property
OPEN HOUSE:  Tuesday, August 1, from 4 to 6pm and Thursday, August 3, from 4 to 6pm

Built in 1885, this huge Italianate style Victorian home features nearly 4,300 square feet of living area with 1 bedroom on the main floor and 5 bedrooms upstairs. Besides a large bedroom, the main level features two parlors, a dining room, a large entry foyer with an open staircase, and the kitchen and a family room. Some upgrades have been made over the life of the dwelling... the butler's pantry now features a wet bar... there are laundry hookups off the kitchen... and the kitchen has very upscale cabinetry and built-in oven and cooktop. Just off the butler's pantry is a screened in porch.

The upstairs level has the remaining 5 bedrooms and 2 full baths, plus a loft library. There are two staircases in the home... the fancy front open staircase to impress guests, and the servants' staircase in the rear.

There are three full bathrooms in the home. There is also a half-bath in the basement. The home also has an attached 2-car garage, which apparently was a well designed addition in later years. There are two natural gas fired boilers in the home and radiant heating throughout. The rear portion of the home has a central air unit. There is a modern 150amp electric service with breakers in the home and there has been major rewiring in the dwelling over its lifetime.

The property is situated on a large 202.8' x 325' corner lot with City water and sewer. The original incoming waterline has been replaced with a copper line. The tract is professionally landscaped and has a blacktop circle driveway and a blacktop drive encircling the home.

There are three fireplaces in the home. There is red oak flooring throughout the home, not just on the first floor like the typical construction of the era.

Although this romance copy may sound charming.... the dwelling is still a "fixer upper". The exterior is in need of scraping and painting, so you can select your own exterior colors. Much of the original woodwork has been painted over... as was the trend a half-century ago... and there are places where the wallpaper has loosened and the original plaster is exposed, and it needs new wallpaper.

2005 Real Estate Taxes: $4,853.88

Terms of Sale:  A $20,000 earnest money deposit in the form of guaranteed funds will be required on day of sale, and the balance will be due in cash or guaranteed funds at closing on or before September 20, 2006.  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 2006 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 immediate confirmation of the Sellers. The property is being sold in an "as is" condition. Any announcements made day of sale will take precedence over prior advertising and printed matter.

Open House Schedule:  The property will be open for inspection on Tuesday, August 1, from 4 to 6pm, and Thursday, August 3, from 4 to 6 pm.  The property will also be open 1 hour before sale time on August 16th, at 5pm.

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.
licensed Illinois Real Estate Broker Corp.
Illinois License #044000115

  Cotten Commercial Auctioneers, Inc.
Indiana License #AC30300095
Joe Cotten - Registered Illinois Auctioneer License #041000209   Joe Cotten - Registered Indiana Auctioneer License #AU10300141