This is a public record generated listing.
528 Residential Units in Illinois
Listing Information
Attachments
528 Residential Units in Illinois
Price: $39,000,000.00
Other Item Info
Item #: ilnbke_1527334
Created: 10/15/2020
Category: Real Property > Commercial > Multi-tenant Residential Property
Sale Location: Chicago, Illinois
Sale Date: Fri. Dec 4, 2020
Created: 10/15/2020
Category: Real Property > Commercial > Multi-tenant Residential Property
Sale Location: Chicago, Illinois
Sale Date: Fri. Dec 4, 2020
Seller Info
Kevin Morse
Debtor's Attorney
130 E. Randolph Street, Suite 3900
Chicago, IL 60601
(312) 985-5556
Debtor's Attorney
130 E. Randolph Street, Suite 3900
Chicago, IL 60601
(312) 985-5556
Bankruptcy Info
Case #: 1:20-bk-18377
Case Title: 2017 IAVF Windy City Fox Run LLC
Court: Illinois Northern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: 2017 IAVF Windy City Fox Run LLC
Court: Illinois Northern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of real property consisting of 528 low income housing units comprised of the Fox Run Property located in St. Charles, Illinois, the Shaddle Property located in Mundelein, Illinois, the Villa Brook Property located in Addison, Illinois, and the Parkside Property located in Glen Ellyn, Illinois, and more particularly described in Exhibit A and Exhibit B from Page No. 66-67 on the attached PDF.
Sale Location
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Chicago, IL, 60601
Additional Details
- Auction Time: 10:00 a.m.
- Sale Hearing Held on December 15, 2020 at 11:00 a.m.
- Initial Overbid: Sellers have entered into the Agreement with ACG Iowa Acquisitions LLC, an Iowa limited liability company, to be the Stalking Horse Bidder (the “Stalking Horse Bidder”) for the purchase of the Property. The consideration proposed by any competing bid seeking to acquire the Property must equal or exceed the sum of: (A) cash in the amount of $39,000,000.00 (the “Stalking Horse Bid”); plus (B) $100,000 in cash; plus (C) The Break-Up Fee and Expense Reimbursement.
- Bid Increment: $50,000
- Bid Deposit: Each bid must be accompanied by a cash deposit in the amount of five percent (5%) of the bid to be held in an escrow account to be identified and established by the sellers.
- Bid Deadline: December 2, 2020
- Last date to respond: December 14, 2020