PRIME CHICAGO REDEVELOPMENTREAL ESTATE AUCTION

FORMER STANLEY’S FRESH MARKET PROPERTY

TUESDAY, NOVEMBER 19th at 10AMAuction Held at the Crowne Plaza Chicago West Loop

StanleysNorthAndElston.com | 800.607.6888

CAPITAL ADVISORS

.5 Mile to Clybourn Metra Station

13 Miles to O’HareInternational Airport

4 Miles to DowntownChicago

600 Ft. To Kennedy Expressway

1000 Ft From ProposedLincoln Yards

LINCOLN YARDS

LINCOLN YARDSLINCOLN YARDS

Auction Time & LocationTUESDAY, NOVEMBER 19TH 2019 • 10AM

Crowne Plaza Chicago West Loop25 S Halsted St, Chicago, IL 60661

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PRIME CHICAGO REDEVELOPMENTREAL ESTATE AUCTION CAPITAL ADVISORS

Prime Redevelopment Opportunity on Chicago’s North Side

The property is the former location of Stanley’s Fresh Market. The site is the gateway into the new Lincoln Yards Development; a 55 plus acre mixed use community development located along the North Branch of the Chicago River.

Auction Tract InformationTRACT 1: 1528 to 1558 NORTH ELSTON AVENUETen (10) Parcels: 28,893± sq ft of land with a 7,665 sq ft building which is the former Stanley’s Fresh Market Store. 436’ frontage on Elston Avenue and 56’ frontage on North Avenue.

TRACT 2: 1523 to 1541 NORTH NOBLE STREET Ten (10) Parcels: 36,346± sq ft of land area with approximately 4,800 sq ft of buildings including coolers used for Stanley’s Fresh Market warehouse and storage.

TRACT 3: 1516 to 1520 NORTH ELSTON AVENUEThree (3) Parcels: 10,629± sq ft of land. Includes a 3 story residential building (2,100± sq ft, 2 apartments) at 1520 N. Elston and 2 vacant lots. 74.06’ Frontage on Elston Avenue.

Tracts Approx. Sq. Ft. 2018 Taxes

1 28,893± $25,4052 36,346± $28,6213 10,629± $15,224

Totals 75,868± sq ft $69,250MARKET HIGHLIGHTS

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Market Highlights• Designated by the City of Chicago as part of the

Downtown Expansion District.

• Epicenter of multiple, vibrant neighborhoods including Noble Square, Goose Island, Bucktown, Lincoln Park, and Wicker Park.

• Sits in the middle of two of the most anticipated, proposed developments, Lincoln Yards and the Salt District.

• Location offers one of the most active retail & office markets in the City.

• Zoned M2-3, no height limitation.

.5 Mile to Clybourn Metra Station

13 Miles to O’HareInternational Airport

4 Miles to DowntownChicago

600 Ft. To Kennedy Expressway

1000 Ft From ProposedLincoln Yards

LINCOLN YARDS

LINCOLN YARDSLINCOLN YARDS

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PROCEDURE: The properties will be offered in 3 individual tracts, any combination of tracts, or in their entirety. The properties will be sold in the manner resulting in the highest total sales price subject to Seller approval. ACCEPTANCE OF BID PRICES: All successful bidders will sign a real estate purchase contract (the “Purchase Agreement”) at the auction site immediately following the close of the auction. All final bid prices are subject to acceptance or rejection by the Seller. DOWN PAYMENT: Ten percent (10%) of the total Purchase Agreement purchase price is due at the close of the auction, upon signing the Purchase Agreement. The down payment may be paid in the form of wire transfer, personal check, business check, or cashier’s check. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.CLOSING AND POSSESSION: The closing date shall be held on a mutually agreeable date within thirty (30) days following the auction date with closing to be held at the offices of Chicago Title Insurance Company or at another mutually acceptable location. Seller shall deliver possession at closing.REAL ESTATE TAXES, SPECIAL ASSESSMENTS & RENTAL INCOME: Real estate taxes and special assessments not due as of the closing will be prorated as of the closing based upon 100% of the last ascertainable real estate tax bill for a full year. Rental income, if any, will be prorated as of the date of the closing.

SURVEY: No new survey will be provided by Seller. Buyer may elect to obtain a new survey at Buyer’s discretion at Buyer’s sole cost and expense. Should a new survey indicate a discrepancy between the actual acreage and/or square footage and the advertised amounts, the Purchase Agreement purchase price shall not be adjusted to reflect the surveyed amounts.TITLE: Seller shall furnish to Buyer(s) at Seller’s expense an Owner’s Policy of Title Insurance in the amount of the purchase price. Seller shall execute a recordable deed sufficient to convey the real estate to Buyer or Buyer’s nominee. EASEMENTS & LEASES: Sale of the property is subject to any and all easements and leases apparent or of record. Please contact auction company for more details.DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller, Murray Wise Associates LLC (“MWA”), or Paine Wetzel Associates, Inc. (“P/W”). Each potential bidder is responsible for conducting his or

her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. The Seller, MWA, or P/W assumes no liability for its accuracy, errors or omissions. All sketches and dimensions in this brochure are approximate. All acreages and square footages are approximate and have been estimated based on information available. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller, MWA, and P/W reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, or etc. The Seller, MWA, and P/W reserve the right to require proof of a bidder’s financial capacity to close on its bid as a condition of accepting a bid. All decisions of the auctioneer are final.AGENCY: Murray Wise Associates LLC, Paine Wetzel Associates, Inc. and their representatives are exclusive agents of the Seller. SELLER: Owner(s) of Record.NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval of MWA and P/W.

Individually or in CombinationBid on Tracts

For detailed information book, call 800-607-6888 or visit

StanleysNorthAndElston.com

Terms & Conditions

Informational Open HousesTUE, OCT. 22ND • 10AM to 1PMTUE, NOV. 12TH • 10AM to 1PM

Held on-site at the former Stanley’s Fresh Market location. Join MWA & PW representatives to learn more about the property and multi-parcel auction procedure.

PRIME CHICAGO REDEVELOPMENTREAL ESTATE AUCTION

ONLINE VIEWING AND MOBILE BIDDING AVAILABLE

NOVEMBER 2019Sun Mon Tues Wed Thur Fri Sat1 2

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RUSSELL SENEFFAUCTIONEER: #441.002205

BROKER: #475164872

EXECUTIVE SUMMARY

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FORMER STANLEY’S FRESH MARKET PROPERTY

StanleysNorthAndElston.com

TUESDAY, NOVEMBER 19th at 10AMAuction Held at the Crowne Plaza Chicago West Loop

Paine Wetzel Commercial Real Estate 8725 W Higgins Rd # 800 Chicago, IL 60631

Ed Wabick • 773.714.2141 ewabick@painewetzel.com

www.StanleysNorthAndElston.com

StanleysNorthAndElston.com

(800) 607-6888

LIVE AUCTIONNORTH AVE.

ELSTON

AVE.

CAPITAL ADVISORS

(800) 607-6888