Wednesday, May 23 — Cortland/Malta, IL

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Cortland school sold for $44,000, Malta school sold for $38,500

Auction Details

ABSOLUTE NO RESERVE REAL ESTATE AUCTION

* 2- SCHOOL BUILDINGS  *
THE FOLLOWING BUILDINGS LOCATED AT 4448 MAPLE CORTLAND, IL, AND 507 N. THIRD STREET, MALTA, IL,  WILL BE SOLD TO THE HIGHEST BIDDER WITH OUT RESERVE AUCTION HELD ON EACH SITE.

 WEDNESDAY MAY 23rd @ 11:00 A.M.
  FORMALLY KNOWN AS The original Malta Grade School and the Cortland Elementary School, THE DEKALB SCHOOL DISTRICT 428 AND THE DEKALB BOARD OF EDUCATION WILL SELL THE FOLLOWING REAL ESTATE AT AUCTION WITH OUT RESERVE TO THE HIGHEST AND BEST BIDDER. BOTH SCHOOLS WERE OCCUPIED IN 2010 AND HAVE BEEN CONTINUOUSLY MAINTAINED. ALL UTILITIES INCLUDING ELECTRIC, HEATING, COOLING, WATER AND SEWER ARE IN OPERATION.  THESE WOULD MAKE A GREAT INVESTMENT PROPERTY. PERFECT FOR A CHARTER SCHOOL, CHURCH OR RECREATION CENTERS. BOTH HAVE GYMNASIUMS, OFFICES, KITCHENS, COMMERCIAL BATHROOMS AND LARGE PARKING AREAS AND EACH BUILDING IS LOCATED ON APPROXIMATELY 6 ACRES. THE AUCTION WILL TAKE PLACE AT EACH LOCATION STARTING AT THE MALTA GRADE SCHOOL, 507 THIRD STREET, MALTA, IL AT 11:00 A.M. FOLLOWED BY THE CORTLAND ELEMENTARY SCHOOL, 4448 MAPLE, CORTLAND, IL AT 1:00 P.M. INFORMATION ON MECHANICALS, DRAWINGS AND IMPROVEMENTS BOTH BUILDINGS AVAILABLE BY CONTACTING AUCTIONEERS. TAX ID#09-176-003&07-23-127-003.
PROPERTIES LIKE THIS DO NOT COME ALONG OFTEN. TALK TO YOUR LENDER NOW AND BE READY TO BID YOUR PRICE AT AUCTION. TO INSPECT PROPERTY CALL AUCTIONEERS AT 815-739-3703.

*** OPEN HOUSE SUNDAY MAY 6th 1-3 p.m. ***
TERM’S FOR REAL ESTATE: 20% DOWN ON AUCTION DAY. BALANCE DUE 30 DAYS AFTER AUCTION DATE, MAY 23, 2012.  A 10% BUYERS PREMIUM WILL BE ADDED TO THE FINAL BID TO DETERMINE THE FINAL CONTRACT PRICE.  PROPERTY BEING OFFERED AS IS, WITH OUT ANY CONTINGENCIES TO FINANCING APPRAISAL OR ANY OTHER TYPE OF CONTINGENCIES. SELLERS WILL PAY FOR DEED PREPARATION AND TITLE COMMITMENT FOR SELLERS. ANNOUNCEMENTS MADE DAY OF SALE TAKE PRECEDENCE OVER ALL OTHER. PICTURES AT ALMBURGAUCTIONS.COM  ALMBURG AUCTIONEERING, INC. 815-739-3703.   

DEKALB SCHOOL DISTRICT 428


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