City Property -- FOR SALE
441 S. Chestnut, Collinsville, Illinois 62234
Parcel Number 13-2-21-34-09-102-006 Madison County
Lot Size 70’x125’, 8,750 SF
Zoned “R2” (One and Two Family Residential)
Allowable Use—Single Family Only
Setbacks must be met or variance(s) will be needed.
Appraised Value: $6,500
Will be required to upgrade to 1” water line tap ($1,000 credit toward upsize for existing tap).
Cost for 1” residential water tap is $2,500 (before credit applied).
May reuse existing sewer service provided it is in good condition.
Residential sewer tap fee is $2,500 per unit.
Although the City is not limited as such, the following conditions shall apply to all bids or proposals:
- Bids may be made for each property or any number of the properties.
- By a majority vote of the City Council all bids may be rejected and any parcel may be withdrawn from sale.
- If a bid is accepted, City Council will require a three-fourths majority vote approving a real estate sales contract executed by the purchaser.
- The City Council may accept the highest bid, or any other bid it determines to be in the best interests of the City.
- The properties listed herein shall be conveyed by Warranty Deed through a title company of the City’s choosing with the City paying no more than one half of the closing costs associate with the sale of the properties.
- Any bids accepted by the City shall not be assignable by submitters.
- The City may consider and condition the proposed use of the property in accepting or rejecting any bid or real estate sales contract.
- Bids shall be accompanied by a down payment of 10% of the proposed purchase price, which shall be credited to buyer at closing or returned upon rejection of the bid by the City.
**Bids shall be presented to the City Clerk prior to 7:30 p.m. on Monday, October 28, 2013. Sealed bids will be opened in the regular public meeting of the Collinsville City Council on October 28, 2013, 7:30 p.m., after which time the City will consider all offers and negotiate the details of a real estate sales contract with the bidder(s) of its choosing.**
TRACY CARLSON - Planning Assistant
Community Development Department
Phone: 618-346-5200 ext 1123
The City of Collinsville
125 S. Center St.
Collinsville, IL 62234