Note Sale


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Location: Chicago, IL
UPCOMING AUCTION  Bidding period to be scheduled

Bank Owned Note Sale

This Property is Being Sold Absolute, to the Highest Bidder, Regardless of Price

Cooperating Broker's Commission: The Greater of 2% or $1,500

Buyer's Premium: The Greater of 5% or $2,500

Note Secured by:

370 East Kensington Avenue, Chicago, IL 60628--PIN #: 25-22-303-060-0000

352 West 108th Place, Chicago, IL 60628--PIN #: 25-16-407-019-0000

1233 West 74th Place, Chicago, IL 60636--PIN #: 20-29-133-018-0000

2508 East 109th Street, Chicago, IL 60617--PIN #: 25-13-207-027-0000

2034 West James Street, Chicago, IL 60609--PIN #: 20-07-306-010-0000

1230 West 73rd Street, Chicago, IL 60636--PIN #: 20-29-119-044-0000

2122 West 73rd Street, Chicago, IL 60636--PIN #: 20-30-113-033-0000

7217 South Green Street, Chicago, IL 60621--PIN #: 20-29-215-007-0000

7239 South Green Street, Chicago, IL 60621--PIN #: 20-29-215-015-0000

10603 South Wentworth, Chicago, IL 60628--PIN #: 25-16-213-027-0000

There is one owner and therefore one note collateralized for all 10 residential lots secured by the note, which is being sold absolute and available for pre-auction purchase. The unpaid principal balance on the collateralized note is $145,000. The note was personally guaranteed, however the borrower has been discharged in Chapter 7 Bankruptcy Court. The default occurred on 1/27/10, which is the day after the loan matured on 1/26/10 and remained unpaid. The demand letter was sent on 4/09/10.  Back taxes currently due total $15,896.96.

Promissory note and mortgage information is available for review upon signing of a confidentiality agreement.  

View Note Sale Flyer (pdf)

View Terms of Sale (pdf)

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Location: 2803 School Street, Floosmoor, IL, 60422
THIS AUCTION IS CLOSED

Note Sale: 2803 School Street, Flossmoor, IL

New Minimum Bid: $29,900 (Reduced from $42,545)

Buyer's Premium: The Greater of 6% or $2,500

Cooperating Broker's Commission: The Greater of 2% or $1,200

PIN #: 31-01-305-010-0000

This one story brick home is occupied. The loan is currently delinquent. The seller does not own fee simple title. Pre-auction bids highly encouraged!

**3 STEPS REQUIRED TO REVIEW PROMISSORY NOTE & MORTGAGE INFORMATION: 1) REGISTER ON OUR WEBSITE; 2) GO TO THE DOCUMENTS TAB, CLICK ON PROMISSORY NOTE & MORTGAGE INFORMATION & ACCEPT THE CONFIDENTIALITY AGREEMENT TERMS BY ENTERING YOUR PASSWORD; 3) DOWNLOAD THE PROMISSORY NOTE & MORTGAGE INFORMATION

View Online Auction Terms and Conditions (PDF)

View Purchase and Sale Agreement (PDF)

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