Bank Owned Note Sale

Bank Owned Note Sale

Bidding is closed.
High Bid:$0.00
Bidding Ended: Sun, Apr 10  9:00:00 am CT
Starting Bid: $1.00
Property Location: Chicago, IL
Property has been viewed 4,539 times.

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)

Click on any picture to see a larger image.