Bank-Directed Year End Auction - Lindenhurst & Danville, IL

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First Midwest Bank has directed these assets to be sold by 2016.  The auction represents a tremendous opportunity to acquire these highly-adaptable buildings at auction prices.

Lindenhurst, IL - This property offers a well-maintained 5,500 SF building that could easily function as retail space, professional office, medical office/clinic, financial, daycare or other adaptive reuse.  The property also offers additional acreage that could be sold or developed in the future.

Danville, IL - This property features a 21,000 SF, two-story office building located in the heart of Danville's downtown, steps from the Vermilion County municipal buildings.  The property provides for a parking lot to the rear of the building, as well as a 1+/- acre development parcel to the east of the main building, ideal for future development.

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You can enter a new proxy bid at any time by entering a bid greater than your current high bid.
A proxy bid would make it more difficult for others to outbid you.

A proxy bid is the highest amount you are willing to pay for an auction item.

In response to other bids, the auction system will automatically increase your bid in the smallest increment possible (up to your proxy bid amount) in order to maintain your lead position.

To get a proxy bid you simply enter the maximum amount you are willing to pay into the bid form just as you would any other bid. If your bid is more than one bidding increment above the current high bid you will get a proxy bid unless another bidder has a proxy bid in place that is higher than the amount you enter.

At the end of the auction, the winning bidder pays only the lowest winning bid possible. That means that you can win an auction item at a price less than your proxy bid amount.

Your proxy bid amount is kept confidential from other bidders.

You can lower or delete a proxy bid by entering a lower amount.

Note: After watching hundreds of auctions and talking to thousands of bidders, we think using proxy bids in your bidding strategy works best for most people. It eliminates some of the pressure and reduces the risk of "sniping", where other bidders slip in slightly higher bids in the last seconds of bidding.

You now have a proxy bid.

You can raise or lower your proxy bid at any time by entering a new amount.

If you wish to remove your proxy bid you can do so by entering an amount equal to the current bid into the bid form.

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You have a max bid of %s on this item. That means that the system will place bids for you in response to bids from other bidders, up to %s.

You can adjust this max bid by using the form above.

If you want to remove your max bid click here.
You can add a max bid to protect your item against other bidders by using the form above.
Place a bid using the form above.

You can enter the minimum bid of %s or a greater amount.

If you bid more than the minimum bid you will get a max bid that the system will use to bid for you against other bidders, up to the amount you enter. So if you enter a bid of %s for this item, the system will place bids on your behalf in response to bids from other users until someone bids more than %s.
LowHighIncrement
$0.00$101.00$5.00
$101.01$1,000.00$10.00
$1,000.01$5,000.00$50.00
$5,000.01$50,000.00$100.00
$50,000.01$100,000.00$500.00
$100,000.01$100,000,000.00$1,000.00
LowHighIncrement
$0.00$100,000,000.00$1.00
LowHighIncrement
$0.00$900,000,000.00$1,000.00
LowHighIncrement
$0.00$900,000,000.00$2,500.00
LowHighIncrement
$0.00$100,000,000.00$10,000.00
Extended Bidding: i
Click to view Item Bid History Click to view Item Photo Gallery

Property Description:

BANK-DIRECTED YEAR END SALE

5,500 +/- SF BUILDING ON 7.22 ACRES

ADDITIONAL LAND PRIME FOR REDEVELOPMENT

  • APPRAISED VALUE: $1,545,000 ($214,000/Acre)
  • SUGGESTED OPENING BID: $400,000 ($55,400/Acre)
  • Adjacent 18-Acres for Sale at $152,800/Acre)
  • 5,449 SF Former Bank Bldg w/ Drive-Thru
  • 7.22 Acres Zoned CB-Community Business (Medical Office, Hotel, Gas, Retail)
  • Less Than One Mile East of Intersection of Sand Lake Road & Grand Avenue
  • IDOT Currently Widening Grand Avenue from Sand Lake Road to Munn Road
  • Village of Lindenhurst is Master-Planning “Grand Avenue Corridor” Improvement Project
Extended Bidding: i
Click to view Item Photo Gallery

Property Description:

BANK-DIRECTED YEAR END SALE

21,000 SF OFFICE BUILDING WITH 1+/- ACRE DEVELOPMENT LAND

IDEAL DOWNTOWN DEVELOPMENT OPPORTUNITY

IMMEDIATE INCOME POTENTIAL

  • PREVIOUS LIST PRICE: $419,000 
  • SUGGESTED OPENING BID: $250,000
  • 21,500 SF Bldg on 0.40 Acre Parcel Between Vermillion St & Hazel St
  • 1.0 Acre Parcel Between North St & Van Buren St
  • B3 Zoning: General Business

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