kansas-city-auction-company

GONE! ABSOLUTE BANK-OWNED LAND AUCTION / TRACT 1 OF 3

Tract 1: APARTMENT SITE (27.22 acres m/l) Sells Regardless of Price!


27.22 acres m/l. Zoning and plan approved for 350+/- apartment units. Easy access to major highways, shopping and entertainment. Desirable North Kansas City School District. Originally listed for $2,436,310 ($2.05 PSF). No minimum bid!

LIVE OFF-SITE AUCTION WITH ONLINE BIDDING
Began: 05/01/13 at 9:30 AM CDT
Property Location:

N. Spruce & NE 80th Street (SEC), Kansas City, MO 64119


Auction Location: The Brass Rail, 4940 NE 81st Street, Kansas City, MO 64119
INSPECTION
Began: 04/17/13 at 12:00 PM CDT
Ended: 04/17/13 at 1:00 PM CDT
Location: N. Spruce & NE 80th Street (SEC), Kansas City, MO 64119

INSPECTION
Began: 04/24/13 at 12:00 PM CDT
Ended: 04/24/13 at 1:00 PM CDT
Location: N. Spruce & NE 80th Street (SEC), Kansas City, MO 64119


Three prime Northland development tracts to be sold regardless of price by bank order.  Approximately 50 acres divided into tracts for Apartment, Townhome and Retail development. Major highway access. Active growth area with established single family and commercial developments already in place. All tracts sell regardless of price!

 

Tract 1 of 3: Apartment Site (27.22 acres m/l)

27.22 acres m/l. Zoning and plan approved for 350+/- apartment units. Easy access to major highways, shopping and entertainment. Desirable North Kansas City School District. Originally listed for $2,436,310 ($2.05 PSF). No minimum bid!

Property Highlights:

  • Prime apartment site in Kings Gate residential development
  • Zoning and plan approved for 350 +/- units
  • Excellent northland location, right off MO-152, just west of I-435
  • Near shopping, dining, entertainment, parks & community college
  • Surrounded by established single family developments
  • All utilities available
  • Highly desirable North Kansas City School District
  • Originally priced at $2,436,310 ($2.05 per sq. ft.)
  • Sells regardless of price!

Detail:

Parcel ID#:          14402000200400

Acres:                   18.27

Zoning:                 R-25, Min. lot size of 2,500SF per unit

 

Parcel ID#:          1407000101600

Acres:                   3.39

Zoning:                 R-25, Min. lot size of 2,500SF per unit

Note:                    Believed to be parkland dedication and use restricted to open space by the City of Kansas City

 

Parcel ID#:          14402000200100

Acres:                   5.56

Zoning:                 R-0.5, Min. lot size of 350SF per unit

 

For development and property-specific questions, please contact Olufu with the City of Kansas City Development Management Department at 816-513-2840. Refer to ordinance #030429, approved by the City Council 4/24/03.

AUCTION TERMS AND CONDITIONS:

AUCTION METHOD:

If a property contains multiple tracts they will be offered individually, in combinations and as a whole. The property will be sold in the manner resulting in the highest total sales price.

REGISTRATION:

Registration will begin one hour before the auction. All bidders must provide name, address, phone number and a valid driver’s license. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.

DOWN PAYMENT:

The successful bidder(s) shall be required to make a 10% non-refundable down payment of the total purchase price at the auction site immediately following the close of bidding.  A personal or business check will be accepted for the down payment if accompanied by a bank letter of guarantee. Otherwise a $25,000 cashier’s check as down payment shall be required to bid and presented at registration. The cashier’s check should be made payable to yourself and then shall be endorsed over to the escrow agent if you are a successful bidder. A personal or business check to bring the balance up to 10% will be accepted. 

FINANCING:

Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.

CONTRACT SIGNING:

The successful bidder(s) shall execute a purchase agreement at the auction site immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise.

CLOSING:

Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s).

EVIDENCE OF TITLE

Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).

SURVEY

Seller shall provide a survey for any tract where there is no existing legal description.  Any need for a new survey shall be determined solely by the Seller. The type of survey performed shall be at the seller’s option and sufficient for providing a legal description for title insurance.  Purchase prices shall be adjusted to reflect any differences between advertised and surveyed acres.

REAL ESTATE TAXES & ASSESSMENTS:

2013 taxes are to be prorated as of the closing date.

EASEMENTS AND LEASES:

Sale of said property is subject to any and all easements of record and any and all leases.

AGENCY:

Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.

BUYER’S PREMIUM:

A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).

BROKER PARTICIPATION:

A commission will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction.

DISCLAIMERS AND ABSENCE OF WARRANTIES

The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it.  All sketches and dimensions are approximate.  No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.

 

From MO-152, south on N. Brighton (just west of I-435), west on NE 80th Street to property on southeast corner of NE 80th and N. Spruce.

Click on any image to view larger.

Your auction should be printing now. If not, please click here.

AuctionServices
We are Kansas City's oldest and most experienced real estate auction company specializing in accelerated real estate sales in Missouri and Kansas, including Overland Park, Lenexa, Shawnee, Leawood, Kansas City, Lee's Summit, Olathe, Blue Springs, Independence, Liberty, Kearney, Parkville, Smithville, Gladstone, Clay County, Platte County, Jackson County, Johnson County, Wyandotte County, Leavenworth County, Cass County, Lake of the Ozarks, Lake Ozark, Sunrise Beach, Osage Beach, Four Seasons, Shawnee Bend, Miller County, Camden County, and around the Midwest. Kansas City auctioneers with regional expertise!