PROPERTY SELLING AS-IS. SELLER SHALL PROVIDE TITLE INSURANCE BUYER PAYS 50% OF CLOSING COSTS WINNING BIDDERS SHALL IMMEDIATELY PRODUCE A $10,000 EARNEST MONEY DEPOSIT -contact Leist Auctioneers to request EMD payment instructions prior to bidding. HIGH BIDDERS FOR AUCTION LOT 1 AND AUCTION LOT 2 MAY BE NULLIFIED BY AN EXCEEDING BID ON AUCTION LOT 3. - see auction descriptions for explanations REMAINDER OF PURCHASE PRICE DUE AT CLOSING WITHIN 45 DAYS OF AUCTION CONCLUSION DEPOSIT IS NOT CONDITIONAL UPON FINANCING, INSPECTION, OR ANY OTHER REASON

PRIME COMMERCIAL REAL ESTATE: high traffic, high visibility location with 8500 square foot building and 135 foot of US-31 Hwy frontage! Wine tasting, event hosting, storage, concert venue, reception hall, brewery...incredible options! Take advantage of this rare opportunity to invest in commercial real estate in Northern Michigan. Properties like this are rarely on the market, and never open to transparent bidding! This building has served commercial /retail interests in the past and is now ready to usher a new client into an evolving area. Torch Lake Twp. offers this location nearby access to one of the worlds prettiest inland lakes, Torch Lake...as well as Lake Michigan. Area tourism is flourishing as guests enjoy year round activities such as boating, camping, fishing, skiing, hunting and golfing. The area boasts 12 local golf courses including some of the highest rated in Michigan. PROPERTY DESCRIPTION The property is made up of 4 seperate parcels totalling 6.05 acres. Parcels 1-3 will be offered as one auction lot and will include an 8547 square foot commercial building. This building is block constructed, has septic, well and propane fueled hot water boiler heating system. There is over 390 feet of frontage on Barnes Park Rd. with ample parking. Parcel 4 is a vacant land parcel with 135 foot of frontage along US-31 Hwy and another 135 feet along Barnes Park Rd. AUCTION LOT #1 will consist of parcel 1 (05-14-495-018-00), parcel 2 (05-14-495-020-00) and parcel 3 (05-14-495-023-00). The high bid on this auction lot will be held until the conclusion of bidding on Auction Lot #3. AUCTION LOT #2 will consist of parcel 4 (05-14-495-016-00). The high bid on this auction lot will be held until the conclusion of bidding on Auction Lot #3. AUCTION LOT #3 will consist of the entire properties listed in both Auction Lot #1 and Auction Lot #2. The high bidder on Lot #3 must exceed the total high bid combination of Auction Lot #1 and Auction Lot #2. An exceeding bid on Auction Lot #3 will nullify the high bids from Auction Lot #1 and Auction Lot #2. BIDDER PACKETS Interested bidders may contact Leist Auctioneers at 833-323-2BID or leistauctioneers@gmail.com to request an emailed version of the Bidder Packet. The bidder packet will include: -May 2020 appraisal -Instructions for Online Bidder Registration -Auction Terms and Conditions - also located online -Showing Instructions -FAAQ - Frequently Asked Auction Questions -Property Tax Information -Any Inspections -if any are completed