Bank Directed Sale! Rockford Area Flex/Industrial Buildings in TIF District and Enterprise Zone on 9.09 Acres

Location: 8155 Burden Road, Machesney Park, IL, 61115

Bank Directed Sale! Rockford Area Flex/Industrial Buildings in TIF District and Enterprise Zone on 9.09 Acres

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Description

SOLD
FOR SALE
Valued To: $2,819,060
New Asking Price: $1,850,000 (Reduced from $2,499,000)
Cooperating Broker’s Commission: 2%
Lot Size: Approx. 9.09 Acres
Buildings: 3 Free Standing
Parking: 70 Spaces
2019 Taxes: $52,984.18
PIN #: 08-16-151-011
Zoning: IG; Industrial General
Government Incentives Available: TIF District and an Enterprise Zone
(For more info contact James Richter II, Community Development Director, Village of Machesney Park, jamesr@machesneypark.org, 815-877-5432)
This property is in a TIF District and an Enterprise Zone. It consists of three, free standing buildings set on approximately 9.09 acres and zoned IG (Industrial General).  It has approx. 548 feet of frontage on Burden Road and approx. 723 feet of frontage on the north side of Martin Drive.  It is ideally located less than one mile from a robust retail corridor along Illinois Route 173 with abundant nearby shops and restaurants.

The main building (8155 Burden Road) is a vacant, approx. 48,294 sf flex/industrial building formerly occupied by Forte Automation Systems. Built in 1978, it is comprised primarily of steel and masonry construction and has 70 asphalt paved and lined parking spaces. It has approximately 10,000 sf of office space with gas-fired forced air and A/C that includes a lobby, reception room, private offices, conference room with adjacent executive office, private restroom and sink/coffee preparation area, two restrooms, and a mezzanine office area including another large cubicle area, several private offices and conference room; the remainder is warehouse space. The warehouse features 2 heavy power (Primary: 2,400 amps, 480 volts & Secondary: 1,200 amps, 480 volts); wet sprinkler system; 25‘ truss height ceilings; two drive-in doors; one interior and one exterior depressed dock with levelators; suspended radiant heaters and A/C; a lunch/break room; a first aid room; two restrooms; and 4 bridge cranes.

The second building (8157 Burden Road) is an approximately 6,000 sf flex building built in 2011.  It is currently leased through December 31, 2021 for $30,000.00 per year ($2,500/month).

The third building is an approximately 1,941 sf garage/storage building adjacent to the parking lot and 8155 Burden Road loading dock.

Recent capital improvements include new ceiling tiles and light fixtures in the main building office space (October 2019); freshly painted office space in the main building (November 2019); and sealcoating and re-striping of driveway and parking lot (October 2019).

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Confidentiality Agreement

I/We the Accepting Party/Parties and any related entities, including brokers, (the “Accepting Party”) is/are interested in obtaining information regarding this Property (the “Property”) in order to evaluate the possible acquisition (the “Proposed Transaction”) of the Property. By entering my/our password I/We accept the following terms of this confidentiality agreement:

  1. Confidentiality: Any information with respect to the Property (collectively, the “Evaluation Materials”) provided to Accepting Party by Owner, Owner’s Representative and AW Properties / AuctionWorks any of their respective consultants, agents or employees (collectively, the “Seller Property”) will be used solely for the purpose of evaluating the possible acquisition of the Property by Accepting Party, and will not be used or duplicated for any other purpose. Accepting Party shall keep all Evaluation Materials strictly confidential provided that the foregoing shall not apply (a) to information of a public nature or learned by Purchaser from any source other than Seller, or (b) from and after the Closing Date. From and after the Closing Date Purchaser shall keep all financial information relating to the Tenants confidential. Nothing contained in this Section shall prohibit any party from disclosing information (I) to its lenders, members, partners, shareholders agents or consultants or prospective purchasers of any of the Parcels or any interest therein; provided that as a condition to any disclosure of Tenant’s or Seller’s financial information, Purchaser shall deliver to Seller a confidentiality agreement executed by the party receiving such information, which agreement shall be for the benefit of Seller and shall be at least as comprehensive as this agreement, (ii) as required by any applicable securities requirement, law or court order, or (iii) in any action between any of the following parties: Purchaser, Seller, Seller’s Affiliate, any Agreement, the provisions of this Section shall survive the Closing or any termination of this Agreement.
  2. No Disclosure: Accepting Party shall not (I) disclose the fact that discussions are taking place concerning the possible acquisition of the Property or any of the terms thereof, or (ii) conduct any discussions, negotiations or make any inquiries concerning the possible acquisition of the Property with any other person or entity, except for Owner and AW Properties / AuctionWorks, except as may be expressly permitted elsewhere in the Agreement and, only in strict accordance with the provisions hereof.
  3. No representations by Seller Parties: None of Seller Parties make any representations or warranties as to the accuracy of completeness of the Evaluation Materials or that actual results will conform to any projections contained therein. Owner, Owner’s Representative and AW Properties / AuctionWorks expressly disclaim any and all liability for representations or warranties, express or implied, contained in the Evaluation Materials or in any other written, oral or other communications transmitted or made available to Accepting Party by Seller Parties, including, without limitation, computer disks containing files with financial data or projections.
  4. No Obligation: Owner is under no legal obligation of any kind whatsoever with respect to the Proposed Transaction by virtue of this Agreement, the delivery of any Evaluation Materials, any discussions concerning the Proposed Transactions or otherwise, unless and until a binding written agreement is executed and delivered by all parties thereto.
  5. Accepting party hereby agrees to indemnify and hold harmless each of the Seller Parties against any and all costs, loss, liability or expense, including attorney’s fees and expenses, arising from or in any way connected with any breach of Accepting Party’s obligations under this Agreement.


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