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Ended: 09/18/08 at 11:00 AM MDT
Ended: 09/25/08 at 11:00 AM MDT
Ended: 10/02/08 at 11:00 AM MDT
110-Bed Medical Center (74,550 SF) & Attached Office Building (50,523 SF), Bi-level parking deck (31,000 SF) with covered parking (15,500 SF). Situated on a 20.45 Acre (890,802 SF) site, this parcel has asphalt parking lots totaling 448 spaces, is zoned R5P (high density residential/office), has ample room for additional development and is located just southeast of the Kansas City Chiefs and Royals stadiums. This property is ideal for assisted living, research, school, church, offices, etc.
(A Phase 1 Environmental Assessment on CD may be requested by calling our office at 816-781-1134. Other related documents and forms can be downloaded from the "Documents" section of this web page.)
- Construction: Reinforced concrete – Union built
- Exterior: Block and brick
- Building Height: 5 Story
- Building Area: 74,550 SF
- Year Built: 1978
- Elevators: 4 hydraulic (in service Mar. 07)
- Docks: 2
- Sprinklers: wet
- Heating: 2-200 h.p gas fired boilers with oil backup
- Cooling: 2 high capacity chillers
- Backup: Diesel generator
- Construction: Steel frame
- Exterior: Block & brick
- Building Height: 2 Story
- Building Area: 50,523 SF
- Year Built: 1983
- Elevators: 2 hydraulic (in service Mar. 07)
- Sprinklers: wet
- Heating: 2 gas fired boilers with oil backup
- Cooling: 2 chillers
- Parking: 31,000SF bi-level deck with 15,500 SF covered parking
- Land Area: 20.45 Acres (890,802sf)
- Parking: 448 Spaces
- Road frontage: 1200 ft. on Raytown Rd., 260 ft. on 53rd St.
- Zoning: R5P High Density Residential/Office
- Development: Ample area
Reason for Auction
The owner, Community Health Group, formerly Health Midwest, a regional health care system of over 12 hospitals and related health care entities completed a sales transaction in 2003 which resulted in most facilities and activities being acquired by a national health care chain. Park Lane Medical Center had ceased operations in 1999 and was not part of the 2003 transaction. Community Health Group is completing the wind-up of activities associated with the 2003 transaction and the sale of Park Lane Medical Center is part of that effort. Certain restrictions were placed on the future use of Park Lane Medical Center as a result of that transaction. The auction process was selected as the means to attract broad interest and complete the disposition in a definite time period.
3 EASY STEPS TO BID!
1. Complete the Sealed Bid Certification form
2. Complete the Purchase & Sale Agreement
3. Deliver both forms with your earnest money deposit for receipt by 5pm on October 16th.
Forms and instructions are available in the "Documents" section in the upper right portion of this page.
Absolute Sealed Bid Auction Procedures & Terms
THE AUCTION: On Thursday, October 16th, 2008, Cates Auction & Realty Co., Inc. will auction the real property located at 5151 Raytown Road, Kansas City, MO, via absolute sealed bid according to the terms and details provided in the Property Information Package.
AUCTION FORMAT: This is a sealed bid auction. To bid in the auction, your written sealed bid must be received by 5:00 p.m. (CST), Thursday, October 16th, 2008 and should be delivered to Jeff Cates, Auctioneer/Broker, Cates Auction & Realty Co., Inc., 1440 Iron Street, North Kansas City, MO 64116. Conforming bids must be made on the Purchase & Sale Agreement included in the Property Information Package and must include a completed “Sealed Bid Certification” form along with an earnest money deposit as described below. Bids that are received after the deadline may not be eligible for consideration and may be returned to the sender unopened. All bids must have a complete return address on the outside of the envelope.
INSPECTIONS: The property is open for inspection tours on September 18th, 25th, and October 2nd. Tours begin promptly at 9:00 from the main entrance of the office building.
AVAILABLE: Certain information has been supplied to prospective buyers to assist in consideration of the property. The property is being sold on an AS IS, WHERE-IS basis and Seller makes no representations or warranties except as described in the Purchase & Sale Agreement. It is the bidder’s responsibility to inspect the property prior to bidding to make their determinations as to the use and condition or seek professional inspection of the property. All information is taken from sources deemed reliable, all measurements are approximate and not to scale. Bidders must independently verify any and all information supplied, and the Seller, Broker, Auctioneer, and Brokerage Companies are not responsible for any omissions, incorrect information, or opinions of third party experts and consultants. Materials available for this auction include:
o Property Information Package (Includes Purchase & Sale Agreement, preliminary commitment of title, and other important documents.)
o Legal Description
o Reciprocal Easement Declaration
o Phase 1 Environmental Assessment
o Site and Floor Plans
o List of Prohibited Uses (Deed Restriction)
BIDS BY THE SELLER: This is an “absolute” sale. The property will be sold to the party with the final highest conforming bid. Bids must remain irrevocable by the bidder during the seven (7) business day bid consideration period. During the consideration period Seller has the right in its sole discretion to request best and final bids. All non-winning bids will be returned to the bidders along with accompanying deposits. Failure to notify the bidder does not constitute acceptance or rejection by the Seller, but converts the bid to a revocable offer. Seller agrees that no negotiations shall take place with parties other than the participants of the sealed bid program during the consideration period. Written notification of final approval will be provided to the high bidder immediately following the determination.
BUYER’S PREMIUM: All sales at auction shall provide that each purchaser pay a buyer’s premium equal to 10% of the high bid. This amount shall be added to the final bid and the total shall be inserted in the Purchase & Sale Agreement to determine the total purchase price. (High bid + BP = purchase price). See the Bid Certification Form and the Purchase & Sale Agreement for details.
DEPOSIT, TERMS &
CLOSING: Each bidder shall make an earnest money deposit (non-refundable for the successful high bidder) equal to 10% of his/her total contract amount. Deposits must be in the form of a cashier’s check made payable to Thomson Title Company. The auctioneer will hold these down payment checks during the consideration period until a successful bidder is identified, and upon notification of the successful bidder, the Auctioneer will deposit the successful bidder’s check in escrow. (Checks and agreements will be returned to all non-winning bidders as described above.) The balance of the purchase price is due at closing in 45 days. Financing is not a contingency of sale in this offering. If purchaser cannot obtain financing, then purchaser must either close for cash within the contractual period or forfeit his/her earnest money deposit. Taxes will be prorated to closing. The Seller is providing the seller’s title insurance policy. The buyer’s title insurance, if needed, will be at the buyer’s expense.
AGENCY DISCLOSURE: Cates Auction & Realty Co., Inc. “Auctioneer” and all licensees employed by or associated with Cates Auction & Realty Co. represent the Seller in the sale of this property, and will not be agents for the buyer.
EXCHANGE: The Seller will cooperate with a purchaser to consummate a tax-deferred exchange provided by Section 1031 of the Internal Revenue Code. The Purchaser will pay all costs and will indemnify and hgold Seller harmless in connection with any matters arising from this exchange.
PARTICIPATION: A commission of 3% of the purchase price shall be paid to the qualified broker who is duly licensed in Missouri, whose properly registered client is the successful bidder, and whose client pays for and settles the property by the closing date. Brokers must register their prospective clients by fully completing the appropriate form provided by Cates Auction & Realty Co.. Completed forms must be submitted along with the sealed bid documents to be eligible for commission consideration.
INFORMATION: Questions concerning auction procedures or terms should be directed to:
Cates Auction & Realty Co., Inc.
1440 Iron Street
North Kansas City, MO 64116
877-78101134 (Toll free)
I-70 to Blue Ridge Cutoff, south to Raytown Rd., then east to 5151.