1.7 +/- Acres with 2 Commercial Buildings
Offered in 2 Individual Tracts & In Combination
Online Only Real Estate Auction
3209 & 3213 S. Park Avenue - Herrin, IL 62918
Public Real Estate Showing:
Tuesday, July 15th from 5 - 7 pm
Online Bidding Ends:
Thursday, July 24th @ 6 pm
(subject to 3 minute auto-extend closing)
Property Description:
This exceptional commercial property is located on highly-trafficked Route 148, just minutes from Herrin, and directly next to Logan Park, a well-known medical hub. Known as the Southern Illinois Collegiate Common Market (SICCM), the property features two versatile buildings, ample parking, and a wealth of potential for various uses. The property includes parking for over 100 vehicles and has been well-maintained, with each building's HVAC system recently serviced and in good working order.
This property is ideal for continued educational use, conversion to a medical office or LTC Pharmacy, or renovation for a variety of other professional or commercial applications. With two buildings that are each well-suited to different needs, it also presents an excellent investment opportunity for leasing.
Don't miss this rare opportunity to own a highly adaptable property in prime location!
Investment Highlights:
Prime Location: Situated on highly trafficked Route 148, near Logan Park (a medical hub) and a local hospital, offering excellent visibility and accessibility
Two Versatile Buildings: Over 10,000 square feet in the primary building with offices, labs, classrooms and more. A second building (constructed in 2008) includes offices, an OR, and classroom space
Ample Parking: Space for over 100 vehicles, accommodating a wide range of uses or tenants
Strong Leasing Potential: Office space in the area typically leases for $1/sqft, providing a solid return on investment
Well-Maintained Property: Both buildings have recently serviced HVAC systems and are move-in ready for educational, professional or medical use
Flexible Use Options: Ideal for continued educational purposes, medical offices, LTC Pharmacies, or other professional/commercial applications
Attractive for Investors: Dual buildings allow for varied leasing options, making this an excellent opportunity for generating consistent rental income
Tract Descriptions:
Tract 1 consists of 1.09 +/- acres improved with a 10,000+ sq ft building that was originally designed for nursing and occupational therapy training. It includes 9 offices, 3 lab rooms, a large classroom, a staff room, a conference room, a small library, and both men's and women's restrooms.
Tract 2 consists of 0.62 +/- acres improved with a second building, constructed in 2008, that was previously used for veterinary technician education. It features 2 offices, an operating room, a large classroom, an imaging room, and 3 bathrooms. This building does not have road frontage, but is accessed via an easement.
Survey:
If the real estate sells in individual tracts, any additional survey work required will be paid for by the seller.
Real Estate Taxes:
The real estate taxes will be pro-rated to the date of final closing. The current owner is tax exempt.
Title Insurance:
The real estate will sell free and clear of any liens or encumbrances. The seller will pay for the title search and the buyer will pay the premium for the title insurance policy.
Ultimate Choice Bidding Platform:
Online bidding will begin on Tuesday, July 15th. Bids can be placed on the tracts individually or in combination, including the entirety. All bids will remain open until competitive bidding concludes. Please note that bidding will end at 6:00 pm on Thursday, July 24th subject to a 3 minute auto-extend closing.
Abbreviated Auction Terms:
The real estate shall sell subject to owners’ approval. A 6% Buyer’s Premium will be added to the high bid amount to determine the contract purchase price. A non-refundable, earnest money deposit of 5% is due within 24 hours of the auction conclusion with the balance due within 30 days of delivery of insurable title to purchaser. The real estate taxes will be pro-rated to the date of final closing (seller is a tax-exempt entity). Possession shall be at final closing. The real estate is selling As-Is and the sale is not subject to any inspections. Inspections can be conducted prior to the auction and are for buyer's informational purposes only. Buyer & seller will each pay their own customary closing expenses, but any fee charged by a title company or escrow agent to close the transaction (typically $250 to $300) shall be split evenly between buyer & seller. This online only auction is not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding. This auction is subject to a 3 minute auto-extend closing. If a bid is placed in the final 3 minutes of the auction, the auction ending will be automatically extended 3 minutes from the time the bid was placed. Due to unpredictable internet speeds & connectivity, the Auction Company strongly discourages bidders from bidding in the last few seconds of the auction. Please click the "Terms" tab to see a complete list of auction terms.
Seller: Southern Illinois Collegiate Common Market
Property Offered In Conjunction with House 2 Home Realty
Megan Campbell
618-387-1438