Second Sale Date:
Wednesday, October 18th @ 12:00 PM
More Information
Sells regardless of price. Vacant commercial land with frontage on Train Ave.
The subject property is vacant commercial land located at 2426 West 25th St. The gross area calculation is taken from the legal description. The county records indicate the site is 1.33 acres (436’ x 133’); while the legal description indicates the site is 1.74 acres (436’ x 133’ x 220’ x 425’). The property is located on the west side of West 25th St, with frontage and access to the site from Train Ave. There is no access to the site from West 25th St. Cleveland CBD is located within two miles +- NE of the subject property. The Cleveland Hopkins International Airport is located approximately ten miles ± SW. The subject site is located in the Cleveland MSA.
Current Zoning is LLR-K3, Limited Retail Business. Land Use code is 4000 – Vacant Commercial Land. The property consists of one site with 1.742 acres taken from the legal description.
Subject is located on the west side of West 25th St, and the south side of Train Ave. Access to the site is from Train Ave to the north and west. The Norfolk & Western Railroad Tracks are the southern border and W 25th St is elevated to the east. Cleveland CBD is located within two miles +- north. Freeway access to Rt #90 east and west is within one mile. Access to I #71 north and south is located within one mile. Access to I #77 north and south is located within two miles +-. The site slopes upward from Train Ave to the south. The site in mostly covered with trees, bushes and long natural grasses. Frontage along Train Ave is 436’. The site extends south along W 25th St approximately 220’ and approximately 132’ at the western edge of the property. The site is mostly rectangular and 1.74 acres.
Lot Size: The county records indicate the site is 1.33 acres (436’ x 133’); while the legal description indicates the site is 1.74 acres (436’ x 133’ x 220’ x 425’).
Annual Taxes: $2,550
Plaintiff
B.R. Knez Construction, Inc.
Defendant Name
HCI, Inc. et al
Attorney
Yourkvitch and Dibo
Viewing Dates
Vacant lot. Walk the property at your own risk.
Property Map
Basic Terms:
* This is a Foreclosure Auction ordered by the Cuyahoga County Common Pleas Court. The foreclosure process intends to clear all liens and encumbrances on the subject property. You are encouraged to purchase Title Insurance at closing for an extra layer of protection.
* The property sells regardless of price.
* The required deposit is 10% of the high bid.
* Successful bidder will be required to deposit the above amount into the trust account of Ohio Sheriff Sales by 5:00 pm day of auction end. This can be done directly at any Chase Bank branch OR by initiating a wire transfer OR via Zelle using Barry@OhioSheriffSales.com (you may have to arrange a one-time daily limit increase with your financial institution for this option). If deposit has not been made by stated time, the purchaser automatically authorizes Ohio Sheriff Sales to charge the credit card provided at the time of registration for the required deposit amount plus a 10% processing fee.
* The real estate is sold As-Is with no contingencies.
* Closing required within 30 days of court confirmation.
* No contract is signed after the auction. A one-page Purchaser Information Form is the only document that is required by the Court. See Documents section of this listing for the form.
* A 10% buyer's premium will be added to the high bid to obtain the final selling price.
* Buyer pays all closing costs.
* Private Selling Officer Deed or equivalent given at closing with no liens or back taxes.
* Provisional Auction Date: In the event the $ 250,000 minimum bid is not achieved on the first auction date, a second online auction will take place ending on Oct. 18 @ Noon subject to no minimum bid.
* The purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover. This generally only comes into play when a property goes to the 2nd auction with no minimum bid, or the property sells for less than is owed for back taxes and court costs.
* BUYER DEFAULT: Be aware, if you are unable to close within 30 days of court confirmation, your deposit is non-refundable, and you could be liable for other costs and penalties including being found in contempt of court.
* CASH ONLY SALE: All sales are considered CASH ONLY with no contingencies. You MAY be able to obtain financing on properties where interior access is available. Banks and Mortgage Co’s will only lend on properties when they can receive an interior appraisal. Keep in mind, the purchase of the property is not contingent upon the result of the appraisal or being denied for financing. The property is being sold AS IS with no warranties or guarantees.
* BIDDING NOTES:
Bid Increment: Required bidding increment is $100 up to $100,000 and $1,000 thereafter.
Max Bid: When bidding, you can place a "Max Bid" and the automated bidding software will bid for you in the required increment up to your stated maximum. You will be notified by email if your maximum is exceeded by another bidder. Bid Extensions: If a bid is placed in the last 5 minutes before the scheduled auction end time, bidding will extend back out to 5 minutes. Bid extensions will continue until a 5-minute period of time elapses after the stated auction end time with no advance in the bidding.