Effingham, IL Commercial Property Online Real Estate Auction

Effingham, IL Commercial Property Online Real Estate Auction

Bidding opens on July 18^th at 12:00am CT

Bidding begins to close on Tuesday, August 18^th at 9:30am CT

3010 N Third Street - Effingham IL 62401

Viewings: Tuesday, July 28^th from 10am-12noon CT and 

Wednesday, August 12^th from 10am-12noon CT

5.987-acre commercial property with a 10,000 sq. ft. building

8,500 sq. ft. heated and air-conditioned warehouse/shop with concrete and epoxy floors and 3 Overhead Doors 

Includes office space, a conference room, and an enclosed parking lot with gated entrance

No reserve online only real estate auction - Effingham, IL

Incredible Effingham, IL Commercial Property Located on Rt. 45Property sits on 6 + or – acres

9,960 sq. ft. 166’x66 located on 6 + or – Acres

Updated water hydrants with concrete protective barriers

Marquee lit sign with letters

- All new electrical lines bored to both signs

Surveillance camera at entrance

- Camera lines bored separate from electrical. All hard wired. No wireless.

Two signs already approved by city

Electric Gate – stores up to 250 codes

All new lights and electrical in parking lot. Bored new lines.

- Outlets setup for trucks to plug-in block heaters on individual breakers

Currently 85 spots in lot, ~60% rented out

- 25% of lot is Parking Club app

~1 acre in hay with easement from north road access

New concrete pad in back to wash vehicles

Property has 1 well but is currently using city water

Dolly blocks for trailers

Building is all wired/ready for generator (cord in black toolbox)

Three new A/C units

On natural gas

Fiber is bored to building if wanted to hook up

Dropbox for checks/contracts and blank contracts available in box

KnoxBox for Fire Department so they don’t have to break in if there’s a problem

Barlow Security System and Barlow Fire Protection system

Conference Room is made of 2x8 walls, spray foamed and filled with insulation – it’s very quiet

- Prepped and ready with outlets – could be a gaming room if beverage license was obtained

Epoxy floor

Control room/office with security cameras

Kitchenette – fridge, sink, microwave, plenty of cabinets

2 restrooms, both handicap accessible

Whole building was brought up to Effingham City code

Second restroom is setup with the option to be a shop restroom

8,500 sq. ft. warehouse

¾” plywood one quarter way up in warehouse for pallets/machinery to rub on and not damage tin

Janitors closet with wash tub and mob sink

Electrical box – all brand new

Two brand new A/C/furnaces for warehouse with extra filter system to collect dust

Commercial dehumidifier

Plumbed for a power washer to back of building

Up to code with exit signs, emergency back up lights if power goes out

3 overhead garage doors

3 floor drains in warehouse

Upstairs for extra storage

Brand new furnace/A/C system in office

Extra spray foam in ceiling to save on heating costs

Metal Conduit ran to every outlet in office

Have stayed consistent at $50/mo. and not yet increased parking lot rent - South side smaller spots, planning to keep $50 - North side, increasing to $75 - Back spots, increasing to $100 - Considered charging businesses (trucking, insurance, etc.) $100+ Truck plug-ins currently $50/mo. additional with 5-6 month min. regardless of weather Truck Parking Club App - Averaging $500-600/mo. 85 spots x $100 = $8,500 x 12 = $102,000/yr Hypothetical if they are all rented! Renting office/warehouse/front lot between $9,000 - $10,000/mo. $9,000/mo. X 12 = $108,000/yr $210,000 A PERSON MAY TERMINATE THE EXISTING RENTERS OR KEEP THE BUSINESS THE SAME. THE EXISTING RENTERS MUST BE GIVEN 30 DAYS TERMINATION NOTICE.

Bidding Increments: $1,000 per acre bid increments. The purchase price is fixed, regardless of future surveys.

Down Payment & Closing: A down payment equal to 10% of the total purchase price is required on the day of the auction or the subsequent day. The remaining balance must be paid at closing, which is scheduled approximately 40 days after the auction. The down payment will be held in escrow at the title company In the event of buyer default at closing, the seller will retain the 10% down payment.

Purchase Agreement: All successful bidders are required to execute purchase agreements on Tues. Aug 18^th, Wed. Aug 19th or Thurs. Aug. 20th. Agreements may be completed either in person or through DocuSign.

Condition: Real estate is sold “As Is.” Buyers should independently inspect and verify all details, as maps and measurements are only estimates. The auction company and sellers are not responsible for any inaccuracies.

Announcements: Auction day announcements take precedence over printed materials.

Liability: Schmid Auction and Austin Walk Properties, LLC. disclaim any responsibility for accidents. Successful bidders are prohibited from moving items onto the property or occupying it until the real estate transaction has been finalized.

Buyer is responsible for all loan-related fees, recording the deed and mortgage, half the settlement fee, date down search, and wire fee. Seller covers deed preparation, transfer stamps, owner policy fees, initial search fee, half the closing fee, and document preparation. Taxes will be prorated as of the closing date.

Your Opportunity to Own Prime Effingham Illinois Commercial Property!