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HOW TO SUBMIT A PRE-AUCTION BID
Click on the Pre-Auction Offer Form link in the upper right hand corner of our website and submit your bid with proof of funds.
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HOW TO REGISTER & BID ONLINE
Register: If you do not have an account on this website, click the “Register” button above and complete the brief registration form. We will then send you an email with a verification link that you must click in order to create a new account.
Important: You must be pre-approved to bid online. Follow these instructions to get approved to bid online:
BID APPROVAL PROCESS:
- Review all information and due diligence documents posted on the property listing on our website.
- Read the Terms and Conditions and Purchase and Sale Agreement (see Terms of Sale pdf) posted on the property listing on our website.
- Wire or overnight the certified funds required to bid on the property (for amount required see Terms and Conditions in Terms of Sale pdf).
- Click the "Get Approved to Bid" button.
- You will receive an email notifying you that you have been approved to bid on the property.
If you have any questions, contact us. We would be happy to assist you.
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The wiring instructions are now available for download using this link: Wiring Instructions.pdf.
Bank Owned Note Sale
Bidding is not allowed on this item at the moment.
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| NA | |||||||
| Bidding Ends: | Wed, Dec 31 6:00:00 pm CT | ||||||
| Status: | {{item.bid_status_text}} | ||||||
| High Bidder: | {{crowd_bidder && crowd_bidder == item.high_bidder ? crowd_bidder_username : item.highbidder_username}} | ||||||
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Bid Increment:
This is one bidding increment above the
current bid on this item. The bidding increment is determined by the amount of the current bid. The table below explains how bid increments
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| Reserve Price: | |||||||
| {{item.effective_increment > 0 ? 'Starting Bid':'Asking Price'}}: | |||||||
| Property Location: | |||||||
| Seller: | {{item.seller_user_name}} | ||||||
| Property has been viewed 3,856 times. | |||||||
ASK ABOUT THIS ITEM
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.