PARROTT AUCTION

ABSOLUTE REAL ESTATE AUCTION

ONLINE ONLY AUCTION, Bid From Phone, Tablet or Computer!

Soft Closes Thursday, August 25th, 2022, 6 PM Central

1702 15th Street & 1722th Street, Lawrenceville, IL 62439

Signs & Multi-page Booklet Brochures will be posted.

BUY CASH. BE YOUR OWN BOSS.

BEING SOLD AT ABSOLUTE AUCTION, REGARDLESS OF PRICE.
NO RESERVE.
NO MINIMUM BID.
BIDDING STARTS AT JUST 1 DOLLAR!

!~ 6 PM ABSOLUTE AUCTION 6 PM ~!

Great Cash Flow Opportunity with Laundry Mat & Investment Grade Single Family Home!

Tract 1 – Laundry Mat on 3 Lots! Being Sold at Absolute Auction!

Excellent Opportunity to buy Cash Flowing Asset!

BEING SOLD AT ABSOLUTE AUCTION, REGARDLESS OF PRICE.
NO RESERVE.
NO MINIMUM BID.
BIDDING STARTS AT JUST 1 DOLLAR!

This previously operating Laundry Mat is Your Key to Success! This Commercially zoned building features 6,524+/- square feet consisting of large main area, half bath, utility closet, rear storage room, plus large side area for additional storage with direct access from outside via overhead door, plus open air lean to storage bay (gravel floor).

Equipment includes: Speed Queen Commercial Front Load Washers, Speed Queen Commercial Top Load Washers, Speed Queen, Wall Install/Mounted Gas Dryers, Change Machine, Detergent Machine, Tables, Racks and More. Complete Equipment List will be provided.

Location: Excellent High Traffic Location along Illinois Route 1 (major local highway).

Average Daily Traffic Count: Average Daily Traffic County of 3,950 per Day. Source: Illinois Department of Transportation.

Access: Full Frontage Access to Illinois Route 1 on corner lot with Access to Ash Street plus City Maintained Alley.

Parking: The current Asphalt Parking lot could hold 15+/- cars easily. Room for Expansion is possible in vacant Grass Lot.

Long Standing History: This property has been a commercial location for nearly 50+ years! Long standing commercial presence and future value add opportunities are a possibility!

Demographics: Population as of July 1, 2021: 15,152. Total Housing Units 2016-2020: 6,344. Median Gross Rent 2016 – 2020: $717. Owner Occupied Housing Rates, 2016-2020: 71.5%. Source: United States Census Website.

R.E. Estimated Taxes: Lawrence County Parcel Index Number(s) 06-003-031-00 (Main Laundry May) ($472.50), 06-003-032-00 (Additions) ($174.46), and 06-003-033-00 (Vacant Grass Lot) ($174.46). Estimated total tax of $821.42. Taxes will be prorated to date of closing, Buyer(s) thereafter.

Tract 2 – 2 Bedroom, 1 Bath Single Family Home on 2 Lots. Being Sold at Absolute Auction!

Excellent Opportunity to buy Investment Grade Property for Renovation!

BEING SOLD AT ABSOLUTE AUCTION, REGARDLESS OF PRICE.
NO RESERVE.
NO MINIMUM BID.
BIDDING STARTS AT JUST 1 DOLLAR!

This single family dwelling features 965+/- square feet of finished living on the main level! This 2 bedroom home features 1 full bath w/ tub/shower combination, large living room, entry way / enclosed porch / mud room, dine in kitchen! The home features a near full basement with sump pump installed, updated water heater and recent furnace. Please Note: this property would be an excellent candidate for a renovation at a reasonable price. Current Full Market Assessed Value is $93,220.

Potential Rental Income: This property has been a cash flowing investment property for many years. This property is located within walking distance to school, ball fields, city park and pool. Lawrenceville has an Excellent Demand for Single Family Homes available for Rent!

Demographics: Population as of July 1, 2021: 15,152. Total Housing Units 2016-2020: 6,344. Median Gross Rent 2016 – 2020: $717. Owner Occupied Housing Rates, 2016-2020: 71.5%. Source: United States Census Website.

Parking: Off Street, Dedicated Parking Available. Room for Expansion is possible in vacant Grass Lot for carport, garage, patio or other!

R.E. Estimated Taxes: Lawrence County Parcel Index Number(s) 06-003-038-00 (Single Family Home) ($583.42), 06-003-037-00 (South Half of Vacant Lot to the North) ($31.58), and 06-003-036-00 (North Half of Vacant Lot to the North) ($31.58). Estimated total tax of $646.58. Taxes will be prorated to date of closing, Buyer(s) thereafter.

Possession: Possession date of closing. Both Tract 1 (Laundry Mat) and Tract 2 (Single Family Home) are currently vacant and available date of closing. Tenant of Tract 2 has been removed from the property and the home has been cleaned, ready for remodeling.

Survey: Any survey cost to be paid by buyer(s). Any acreage difference greater than half (½) acre plus or minus from the advertised acreage discovered in survey will be reflected in price adjustment based upon original bid price per acre & original buyer’s premium per acre.

Online Bidders: Please take special note of the countdown timer shown on the screen. It may be extended due to the soft close feature at any moment. Online bidders are encouraged to bid early and often as technical issues may arise.

Soft Close: This is a soft close auction meaning two key points: 1) each lot will feature a stagger of 10 seconds between each lot ending. 2) If a lot is bid on within the last 10 minutes of the countdown timer for that lot, the countdown timer will automatically get reset to 10 minutes. Additional time will continue to be added until no additional bids have been placed. Place your bids early and often.

Terms: 10% down day of sale non-refundable escrow. 6% Buyer’s Premium. Closing to occur as soon as necessary documents are prepared, Plan to close in 30 days. Have financial arrangements made prior to auction as sale is not contingent upon Buyer(s) ability to obtain financing.

Condition: Being sold "As is, Where is". Buyer to have all inspections completed prior to auction that they deem necessary. Included Equipment List will be available for viewing on our website at www.parrottauctions.com.

Title: Seller shall furnish the buyer(s) at Seller's expense an Owners Policy of Title Insurance in the amount of the purchase price for surface rights only, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s). Lawrence County Title, Lawrenceville, IL, will be the closing agent on the transaction. Preliminary Title commitment will be available for viewing prior to auction once available and will be posted to www.parrottauctions.com

Agency: Parrott Marketing Group, LLC and its representatives are acting as Agents for the Seller.

Approval of Bids: Being sold at ABSOLUTE AUCTION. Bid Now, These Properties will have a New Owner. No Reserves, No Minimum. Bidding Starts at Just 1 Dollar!

Bidding: All Bidding will be on a TOTAL DOLLARS PER TRACT basis. All tracts will be offered individually. Tracts will not be offered as a combination. Bid Increments from Start to Finish is $50.

Other Announcements: All information provided is from sources deemed reliable however not guaranteed. Parties relying on such are urged to perform due diligence and base their decisions upon that information. Announcements / Changes made take precedence over any previous information.

Log onto www.parrottauctions.com downloadable multi-page brochure, aerials, equipment list & More!

Open House / Inspection Dates to meet Listing Broker and Lead Auctioneer Zane Parrott for a guided tour of the properties!

Inspection Dates:
Wednesday, July 27th, 4 - 5 PM Central

-and-

Wednesday, August 10th, 4 – 5 PM Central

-and-

Wednesday, August 24th, 4 - 5 PM Central

Preview: For private tour of the property or more information, please Listing Agent Zane Parrott at 812-890-5452 for your guided tour!

Tract 1 (Laundry Mat) will be Inspection Headquarters!

Please see www.parrottauctions.com for complete listing and high resolution interior and exterior photos!

Progress Now, LLC – Seller